(WAM) — The Ajman Media City Free Zone recorded a 25 percent increase in its proceeds in the third quarter of 2020, compared to the same period in the previous year.

In an interview with the Emirates News Agency, WAM, Mahmoud Khalil Al Hashemi, Executive Director of the Ajman Media City Free Zone, said that the number of licenced companies and foundations that operate in the zone increased by 66.8 percent at the end of September compared to the same month in 2019, amounting to 3,054 companies.

Indian investors lead in terms of the distribution of nationalities investing in the zone, accounting for 36 percent of total, followed by Pakistani investors who account for 13 percent, and French investors for 6 percent.

Commenting on the effects of the coronavirus pandemic, Al Hashemi stressed that the outbreak has affected all economic sectors, but the zone has managed to recover from its repercussions due to the directives of Sheikh Abdulaziz bin Humaid Al Nuaimi, Chairman of the Board of Directors of the Ajman Media City Free Zone, who launched several economic incentive packages this year to support businesses in the zone.