Ajman Government signs Dh5 billion investment deal with China’s Sinomach Group

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

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.

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.