Ajman Free Zone and noon.com sign MoU

September 14, 2020 | By RetailME Bureau

The Ajman Free Zone and noon.com sign MoU (memorandum of understanding) to further enhance the local e-commerce sector and attract new investors to Ajman. The MoU will strengthen the cooperation and coordination between both parties as they work towards boosting the sector’s performance and supporting its steady expansion.

Under the MoU, the existing Ajman Free Zone investors who hold e-commerce licenses can join noon.com to utilise the home-grown platform’s extensive library of tools, including a fully optimised platform, secure payment gateway and established logistics and fulfilment network. Companies wanting to use noon.com as their digital selling platform but are not yet registered in the free zone can still obtain an e-commerce license to enjoy this privilege and other benefits.

Apart from building enhanced cooperation and coordination, the MoU will also help fast-track digital transformation not only of Ajman but the entire UAE, whose e-commerce market is considered the most developed in the Middle East and North Africa (MENA) region at a 4.2% penetration rate.

As Ajman Free Zone and noon.com sign MoU, Ali Abdulla Bin Towaih Al Suwaidi, director-general, Ajman Free Zone, noted that this reflects their shared commitment to forming strategic partnerships with leading players across industries, including the steadily rising UAE e-commerce market.

“Our strategic partnership with noon.com, one of the country’s leading e-commerce platforms, will benefit both our investors and customers by opening up new opportunities for business expansion and development,” Al Suwaidi said. “The range of available services, for instance, will grow and become diverse as a result of this new collaboration, thus providing our investors and customers with more options and advantages. We are confident that this quality partnership will bring enormous benefits – particularly with regard to bolstering the growth of the e-commerce market – supported by the government’s unwavering assistance as well as the country’s continuous modernisation of its digital infrastructure for more advanced services such as the offering of secure and convenient electronic payment methods.”

“As the region’s leading home-grown digital marketplace, noon is proud to support businesses, offering them immediate access to our huge and highly engaged customer database along with our trusted services. Through our partnership with Ajman Free Zone, we will be able to provide countless new businesses with the tools they need to expand their offering online, driving reach to new audiences, multiplying sales, enabling them to compete better in a digitally progressive retail market. We’re looking forward to welcoming SMEs and supporting their growth across the region,” added Yousef Almehrzi, responsible for government partnerships at noon.com.


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