A few days ago, the UAE Federal Government issued a decree to no longer charge AED 2,600 per ticket deposit when applying for a work visa, in order to reduce enterprise labor costs, reduce the burden on enterprises, and stimulate enterprise vitality. In order to actively respond to the call of the Federal Government to reduce operating costs for the majority of Ajman China Mall Park enterprises, to stay warm in the economic winter, and to utilize the working joint meeting mechanism established by Ajman China Mall and Ajman Free Zone, December 25, 2018 ,the management of Ajman China Mall and the management of Ajman Free Zone held a special meeting to study the burden reduction of enterprises in China mall park, and reached an agreement. They are really doing practical work for the enterprises in the park and working together for the development of China Mall.

Luo Feng, general manager of Ajman China Mall, first mentioned that the current world economy is sluggish and economic growth is weak. As the investor and manager of the Ajman China Mall project, we hope to discuss with the Ajman Free Zone how to effectively reduce the burden. Taking measures to reduce the labor costs of enterprises in the park and stimulate the development of the park. It is hoped that the Ajman Free Zone will stop collecting employee work visa ticket deposits.

Fatima, the general manager of Ajman Free Zone, appreciates that the management of Ajman China Mall can stand from the perspective of enterprises in the park and actively discuss with the government departments to reduce burdens and strategies, and stated that Ajman Free Zone will stop receiving new Deposit.

Luo Feng expressed his gratitude to Ms. Fatima for her rapid decision-making. As the investor and manager of Ajman China Mall we are also working with the Ajman Free Zone. We will no longer collect visa deposits for enterprises in the park. Reduce the labor cost of enterprises in the park, and let the enterprises in the park become real beneficiaries.

So far, the visa deposit that has been collected for 8 years is expected to officially withdraw from the stage of history.

Ms. Sheha, Investment Director of Ajman Free Zone, and Yue Yingchun, Deputy General Manager of Ajman China Mall attended the meeting.