Page 145 - AJMAN TOURISM PR REPORT - September 2024

9/19/24, 5:12 PM Ajman signs Dh5 billion investment deal with China’s Sinomach Group | Arabian Post
Ajman signs Dh5 billion investment

deal with China’s Sinomach Group

Government of Ajman has signed a Memorandum of Understanding (MoU) with China National
Electric Engineering Co. Ltd. (CNEEC), a subsidiary of Sinomach Group to invest upto Dh5 billion in

infrastructure projects that will help the emirate’s economy to grow.

The MoU, signed by Sheikh Abdul Aziz bin Humaid Al Nuaimi, Chairman of the Ajman Tourism
Development Department, and Yan Weihua, General Manager of CNEEC, paves the way for future
cooperation on investment projects in infrastructure and manufacturing industries, with an estimated

value of Dh5 billion.

Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of the Ajman Executive
Council, and Zhang Xiaolun, Chairman of Sinomach, a Chinese state-owned enterprise (SOE)

involved in heavy equipment manufacturing as well as overseas general contracting, witnessed the
signing of a memorandum of understanding (MoU) between the Ajman government and China
National Electric Engineering Co. Ltd. (CNEEC), a subsidiary of Sinomach whose expertise is

overseas general contracting.

A D V E R T I S E M E N T

Earlier Sheikh Ammar bin Humaid welcomed Zhang Xiaolun, Chairman of Sinomach, at the Emiri

Diwan alongside Sheikh Abdul Aziz bin Humaid Al Nuaimi, Chairman of the Ajman Tourism
Development Department.

.
The meeting saw engaging discussions on Sinomach’s strategic initiatives and ongoing projects in the

region, underscoring Ajman’s commitment to strengthening ties between governmental bodies and the
private sector. Sheikh Ammar emphasised that these partnerships are vital in facilitating the exchange
of expertise and the execution of major developmental projects, ultimately boosting economic activity,

fostering innovation, and enhancing the overall business climate.

Sheikh Ammar reaffirmed Ajman’s commitment to fostering an attractive business environment for
entrepreneurs and investors. “Ajman is dedicated to creating an ideal climate for investment, aligned

with the emirate’s and the nation’s broader economic visions and strategies. We are focused on
expanding infrastructure and modern industries to attract global companies and support their
operations in our emirate,” he said.

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