Abu Dhabi identifies 23 investment areas in the pharmaceutical industry

Abu Dhabi identifies 23 investment areas in the pharmaceutical industry

21 Sep 2020
Industrial Development Bureau, DED - Abu Dhabi

The Abu Dhabi Department of Economic Development has identified 23 industrial investment fields, focusing on them in the field of pharmaceutical and health industries, that contribute to achieving self-sufficiency in the health sector in the Emirate of Abu Dhabi, of which 14 are investment fields for new industries, and 9 areas of development for existing industries, within the framework of the Basic Industries Project. Which is implemented by the Industrial Development Office of the Department, in cooperation and coordination with the Abu Dhabi Investment Office, the Abu Dhabi Department of Health, and the Abu Dhabi Health Services Company (SEHA). The total number of licenses issued to medical factories in the Emirate of Abu Dhabi reached 23 licenses with an investment value of 1.992 billion dirhams, including IO factories currently under construction with investments amounting to 923 million dirhams, and 13 licenses in the state of production with a value of 1.069 billion dirhams. Officials indicated, during the media briefing organized by the Department of Economic Development in Abu Dhabi yesterday, entitled "The Basic Industries Project, Medical and Pharmaceutical Industry", that the basic industries that contribute to achieving self-sufficiency in the Emirate of Abu Dhabi include food industries, energy production support industries, and medical industries. , With a total of 62 investment fields, of which 23 are in the medical sector. His Excellency Muhammad Ali Al-Shurafa, Head of the Department, said that the "Basic Industries Project" aims to create new investment fields in the food, health, industry and energy sectors, to contribute to achieving self-sufficiency in the emirate, in line with the Abu Dhabi government's directions to achieve sustainable economic development, and to enhance the role of non-economic sectors. Oil, which contributes to increasing its contribution to the emirate's GDP. His Excellency explained that the fields of investment in the pharmaceutical and health industries have been divided into 9 investment fields within the pharmaceutical industries sector, including 6 existing industries, 3 new industrial fields, and 5 investment fields within the supplies and medical protection equipment sector, which include 3 new industrial fields and 2 industries The list, as well as identifying 9 investment fields within the medical devices and equipment sector, and it includes 8 new industrial fields, and one field within the existing industries. His Excellency pointed out the importance of this project to contribute to achieving self-sufficiency in the health sector of the Emirate of Abu Dhabi and the UAE in general, by defining a list of 24 priority medical products, including the manufacture of medicines, medical equipment and medical protection supplies. For his part, Rashid Abdul Karim Al Balushi, Undersecretary of the Abu Dhabi Department of Economic Development, stated that the total number of licenses issued to medical factories in the emirate amounted to 23 licenses with an investment value of 1.992 billion dirhams, including IO factories currently under construction, with an investment value of 923 million dirhams, and 13 production licenses. With an investment value of 1.069 billion dirhams, divided into 5 factories that produce investment medical supplies of one million dirhams, 4 factories for the production of medicines with an investment value of 467 million dirhams, and 4 factories that produce medical devices and equipment, with an investment value of 334 million dirhams. He pointed out that the annual consumption value of the main governmental and private hospitals of priority medical products amounts to 5.5 billion dirhams, according to studies by a specialized company, the pharmaceutical products are led by 90%, equivalent to 5 billion dirhams of the total consumption value, and then medical supplies By 6, while the percentage of medical equipment consumption is 4. He said that 74% of consumed medicines belong to basic medicines, including 14% for antibiotics and 7 for biomedical products or what is known as biological medicines. In turn, Dr. Tariq bin Hindi, Director General of the Abu Dhabi Investment Office, said that new areas of investment open the door wide for enhancing the possibilities and opportunities available to investors and manufacturers who are currently in the Emirate of Abu Dhabi, or who wish to establish and develop their businesses there. The health sector in particular provides great commercial opportunities to investors, and our mission in the Abu Dhabi Investment Office is to provide all support and assistance to these companies. For his part, Dr. Jamal Muhammad Al Kaabi, Acting Undersecretary of the Department of Health, confirmed that the health sector in the Emirate of Abu Dhabi has witnessed an unprecedented expansion during the past few years, as we currently have 66 hospitals, 1,835 medical centers and clinics and 880 foreign pharmacies to serve the community, in addition to 747 licensed drug and medical supplies warehouses in the Emirate of Abu Dhabi. For his part, Muhammad Hareb Al Qamzi, Executive Director of Support Services at the Abu Dhabi Health Services Company (SEHA), stressed the importance of the pharmaceutical industries in providing medicines to hospitals and health centers operating in the UAE, and achieving self-sufficiency in medicines and medical supplies, especially in light of what the world is witnessing of Spread of epidemics and diseases. Investment opportunities and industrial incentives Nabil Saleh Al-Awlaki, director of the Environment, Health and Safety Department at the Industrial Development Bureau, said that the new investment fields in the medical industries include pharmaceuticals, the medical hospital industry, the manufacture of biological medicines and antibiotics. Ali Mubarak Al-Hamami, Director of the Industrial Organization Department, indicated that there are a number of incentives and programs that support vital industries, with the aim of facilitating the business environment in the industrial sector in general and the medical sector in particular, such as the Abu Dhabi Local Content Program and the Electricity Tariff Incentive Program.

Related News

  • Achieving industrial security

    05 Oct 2020

    8 proposals to boost investments in medical industries
    READ MORE
  • image

    20 Apr 2020

    7 banks conclude industrial mortgage contracts with 32 factories in Abu Dhabi
    READ MORE