UAE announces industrial deals worth $71m to support local production of medical equipment

The UAE has announced the signing of industrial deals worth Dh260 million ($70.79m) between major pharmaceutical and medical companies to manufacture medical equipment locally. Under the partnerships, PureHealth, one of the largest healthcare providers in the UAE, will work with Abu Dhabi Medical Devices Company, the Abu Dhabi Ports Group and Abu Dhabi Polymers Company, better known as Borouge, to establish a Dh110m medical supplies production line in Abu Dhabi, the Ministry of Industry and Advanced Technology said on Friday. Borouge will provide raw materials while the Abu Dhabi Ports Group will provide industrial land in ICAD 1 for the production of medical syringes, administration devices and blood collection tubes. In a separate agreement, PureHealth and Ras Al Khaimah’s Gulf Pharmaceutical Industries Company, better known as Julphar, will set up the first factory in the Middle East to produce Glargine — the first long-acting biological alternative to insulin — for the treatment of diabetes. The Dh150m manufacturing unit will be built in Ras Al Khaimah and will enable the UAE to obtain an insulin substitute at more competitive prices. It will also support exports to regional and global markets where there is a growing demand for insulin substitutes, the ministry said. “These partnerships are in line with the directives of our leadership, which aim to empower and stimulate sectors, enhance investment and support the UAE’s position as a global industrial hub,” said Dr Sultan Al Jaber, Minister of Industry and Advanced Technology. “The partnerships are in line with our strategic objectives and reflect the important role of the ministry's Make it in the Emirates Forum, which identified more than 300 products that can be produced locally in priority sectors such as pharmaceuticals and medical equipment.” The Make in the Emirates Forum was hosted by the Ministry of Industry and Advanced Technology in May. It highlighted industrial investment opportunities and identified products that can be manufactured locally, including in the pharmaceutical and medical supplies sector. “These partnerships will play a significant role in boosting economic development through the National ICV [In-Country Value] Programme,” Dr Al Jaber said. “The ICV Programme is one of the ministry's Projects of the 50 supporting economic growth. “It increases supply chain resilience and encourages companies to manufacture quality products in the UAE that can be exported globally.” He also called on investors and industrialists from around the world to seize the investment opportunities offered by the UAE’s industrial growth and investment environment, as well as take advantage of the Make it in the Emirates campaign. These include competitive financing opportunities, business incubators, feasibility studies, a strategic location, world-class logistics infrastructure, the global credibility of the Emirates, legislation that protects investor rights and easy access to global markets. Sarah Al Amiri, Minister of State for Public Education and Advanced Technology, said “these agreements will strengthen local supply chains and help enhance self-sufficiency in medicines and healthcare products”. “The memoranda of understanding also reflect efforts by major national companies and institutions to integrate and collaborate while enhancing opportunities for citizens to obtain quality jobs,” she said. The UAE launched its industrial strategy “Operation 300bn” last year as it seeks to position it as a global industrial centre by 2031. The 10-year comprehensive road map focuses on increasing the industrial sector's contribution to the country's gross domestic product to Dh300 billion by 2031, from Dh133 billion in 2021. The strategy focuses on boosting production in 11 priority sectors, supporting the growth of national industries, attracting foreign investment, modernising legislation and ensuring the availability of dedicated financing for local industrial companies. Borouge chief executive Hazeem Al Suwaidi said “we will provide partners with our locally made polyolefins that are tailored for the healthcare sector and to enhance people’s lives”.

UAE announces industrial deals worth $71m to support local production of medical equipment

Agreements cover the setting up of factories and production lines in Abu Dhabi and Ras Al Khaimah