The American geneticist Khemissa Bejaoui from Wisconsin is keen to explore business opportunities in the Middle East.
Along with her, the company she works for, PreventionGenetics, will be at the Arab Health trade fair for the first time this month.
At the 39th edition of Arab Health, PreventionGenetics will be among eight companies attending as part of the Wisconsin Economic Development Corporation’s trade venture, whose second stop will be Dubai after Qatar. The trade show starts tomorrow at the Dubai International Exhibition Center.
PreventionGenetics, however, is not new to the region.
The company analyses blood samples shipped in by hospitals and clinics, including those from the Gulf, for genetic disease or disorders that form the basis of further physician diagnosis.
“We currently provide services to [Qatar’s] Hamad Medical Corporation, [Al Ain’s] Tawam Hospital, the National Reference Laboratory in Dubai, [Oman’s] Sultan Qaboos University Hospital, King Abdulaziz Medical City and King Fahad Medical City [in Riyadh], and Kuwait Medical Genetic Centre,” said James Weber, president and chief executive of PreventionGenetics.
It’s easy to understand the attraction for Wisconsin companies. The UAE ranked 17th in the state’s global exports, supplying goods worth $305 million, last year, according to the UAE embassy in Washington, DC.
In her venture, Ms Bejaoui will be among thousands of medical professionals and representatives of companies who will attend Arab Health this year. While her company is not setting up a booth at the trade show, 297 companies from the United States are exhibiting besides thousands more from other countries. And new companies from across the globe are eyeing the health care industry in the Emirates after Dubai joined Abu Dhabi in the mandatory health insurance scheme.
While China will be sending the highest number of exhibitors at 548, it will be followed by Germany, the US, the United Kingdom, the UAE and Italy.
“It’s my ninth [Arab Health]; it’s a promising scene for this year and we have had a waiting list since last summer,” says Dave Panther, sales director for the exhibition and trade show organisation company Informa, which is in charge of Arab Health. “Pharmaceutical and biotech companies are about 15 per cent of the exhibitors, around 40 to 45 per cent are medical device manufacturers, and the rest comprises healthcare service providers such as Cleveland Clinics and hospital groups, turnkey solution providers to hospital builders and IT sector.”
This year, more than 3,900 companies are exhibiting. Among the newcomers is an official group from Palestine with 30 companies, a small Iraqi group of five companies under the Iraqi ministry of health, a pavilion from Pakistan with 30 companies, and Morocco’s pharma manufacturing companies.
The Jebel Ali Free Zone also has a big pavilion this year in its efforts to attract companies to the free zone.
Arab Health is the second largest trade show in the sector after Medica, held annually in Düsseldorf, Germany.
Last year, about 3,500 exhibitors from 64 countries attracted about 81,000 visitors – with a majority from the Arabian Gulf – to the four-day show. The visitors included representatives of public and private hospitals, followed by those from governments, clinics and laboratories.
The demand means the cost of setting up a booth has risen. This year it costs $630 per metre, an increase of 5 per cent on last year.
According to Mr Panther in 2012 the US contingent alone sealed contracts worth about $40m.
The trade show has grown in stature and attendees. The introduction of mandatory health insurance in Dubai – a scheme which will begin its roll-out later this year – is expected to boost it further.
Medical insurance makes health care more affordable, although not necessarily cheaper, and subsequently, leads to higher demand for health care services, said Sanjay Vig, managing director at Alpen Capital.
“The mandate will benefit all the concerned stakeholders – including insurance providers, healthcare facilities and most importantly patients,” Mr Vig said. “Effects of an increase in health insurance penetration in the UAE and development of the healthcare sector are expected to percolate on to the pharmaceutical industry due to the increase in demand of drugs and medicines.”
The increased spending from hospitals in the Gulf is another reason trade shows such as Arab Health, where companies showcase their latest gadgets and services, has been gaining traction.
Last year, the UAE’s healthcare budget was around $12bn, and spending on health care as a percentage of the GDP of 3.3 per cent is the third highest in the Gulf, after Bahrain and Saudi Arabia, according to a report from Colliers International last month.
About 36 per cent of UAE hospitals are owned and operated by the Ministry of Health, while the private sector catered to 64 per cent of the entire population in 2011, according to the National Bureau of Statistics.
This year, the Ministry of Health had allocated Dh519 million for procurement of medicines and medical equipment, reported The National’s sister publication Al Ittihad earlier this month.
The trend of high spending on health care is expected to continue with the UAE population expected to touch 12 million by 2018.
Wisconsin, among other parts of the world interested in the Gulf market, has a strong medical device and health-related sector.
That includes corporations such as GE Healthcare to small and growing bio-tech start-ups boosted by research being conducted at the state’s Marshfield Clinic, the University of Wisconsin and the Medical College of Wisconsin, says Stanley Pfrang, market development director for India, the Middle East, and Africa for Wisconsin Economic Development Corporation.
“The fact that Arab Health is such a large trade show and draws attendees and exhibitors from such a large portion of the globe, makes it an ideal opportunity for Wisconsin companies to investigate key players and changing market conditions,” he says.
ssahoo@thenational.ae
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
RESULT
Bayern Munich 5 Eintrracht Frankfurt 2
Bayern: Goretzka (17'), Müller (41'), Lewandowski (46'), Davies (61'), Hinteregger (74' og)
Frankfurt: Hinteregger (52', 55')
Quick pearls of wisdom
Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”
Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.”
If you go
The flights
Etihad (etihad.com) flies from Abu Dhabi to Luang Prabang via Bangkok, with a return flight from Chiang Rai via Bangkok for about Dh3,000, including taxes. Emirates and Thai Airways cover the same route, also via Bangkok in both directions, from about Dh2,700.
The cruise
The Gypsy by Mekong Kingdoms has two cruising options: a three-night, four-day trip upstream cruise or a two-night, three-day downstream journey, from US$5,940 (Dh21,814), including meals, selected drinks, excursions and transfers.
The hotels
Accommodation is available in Luang Prabang at the Avani, from $290 (Dh1,065) per night, and at Anantara Golden Triangle Elephant Camp and Resort from $1,080 (Dh3,967) per night, including meals, an activity and transfers.
Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
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Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
UAE currency: the story behind the money in your pockets
Emergency
Director: Kangana Ranaut
Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry
Rating: 2/5
Tell-tale signs of burnout
- loss of confidence and appetite
- irritability and emotional outbursts
- sadness
- persistent physical ailments such as headaches, frequent infections and fatigue
- substance abuse, such as smoking or drinking more
- impaired judgement
- excessive and continuous worrying
- irregular sleep patterns
Tips to help overcome burnout
Acknowledge how you are feeling by listening to your warning signs. Set boundaries and learn to say ‘no’
Do activities that you want to do as well as things you have to do
Undertake at least 30 minutes of exercise per day. It releases an abundance of feel-good hormones
Find your form of relaxation and make time for it each day e.g. soothing music, reading or mindful meditation
Sleep and wake at the same time every day, even if your sleep pattern was disrupted. Without enough sleep condition such as stress, anxiety and depression can thrive.
At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
more from Janine di Giovanni
Indoor cricket in a nutshell
Indoor Cricket World Cup – Sep 16-20, Insportz, Dubai
16 Indoor cricket matches are 16 overs per side
8 There are eight players per team
9 There have been nine Indoor Cricket World Cups for men. Australia have won every one.
5 Five runs are deducted from the score when a wickets falls
4 Batsmen bat in pairs, facing four overs per partnership
Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.
Zones
A Front net, behind the striker and wicketkeeper: 0 runs
B Side nets, between the striker and halfway down the pitch: 1 run
C Side nets between halfway and the bowlers end: 2 runs
D Back net: 4 runs on the bounce, 6 runs on the full
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
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