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Herald Reporter

UNITED Arab Emirates (UAE) billionaire and Zim Cyber City developer, Mr Shaji Ul Mulk, has been praised for helping to structure a US$1,5 billion memoranda of understanding (MoU) between the Amjan government and China National Electric Engineering Co Ltd (CNEEC), a subsidiary of Sinomach.

Sinomach is a Chinese state-owned enterprise in heavy equipment manufacturing while its subsidiary, CNEEC, is involved in tool making, construction equipment, agricultural equipment and infrastructure construction.

Ajman is now a huge economic power and stands behind only Abu Dhabi and Dubai in terms of progress and economic growth.

The ceremony was attended by His Highness Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman and chairman of the Ajman executive council and Mr Zhang Xiaolun, the Sinomach chairman, and other executives.

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 such partnerships were 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.

It was during that meeting that Sheikh Ammar and Mr Zhang witnessed the signing of an MoU between the Ajman government and CNEEC.

The MoU, signed by Sheikh Abdul Aziz bin Humaid Al Nuaimi on behalf of the Ajman government and Yan Weihua, CNEEC general manager on behalf of the company, paves the way for future co-operation on investment projects in infrastructure and manufacturing industries, with an estimated value of 5 billion dirhams (UAE currency which is equivalent to about US$1,5 billion).

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.

Mr Zhang expressed gratitude for the warm reception and praised the ongoing cultural and economic renaissance in the UAE, particularly in Ajman.

He highlighted the emirate’s progressive legislation, modern infrastructure and flexible services that make it an attractive destination for international business.

Mr Zhang also expressed his wish that the MoU be the commencement of a series of successful co-operation between Ajman and Sinomach.

In addition, both sides extended their appreciation to Mr Mulk, who played a pivotal role in facilitating the visit and fostering investments in Ajman through his position as the local strategic partner of CNEEC.