Monday 24 June 2024

Officials after signing the agreement

$33.39m pharma unit to be set up in Dubai Industrial City

ABU DHABI, 25 days ago

Dubai Industrial City has signed a AED130 million ($35.39 million) agreement with MD Pharma Factory to set up the first Egyptian medicine manufacturing facility in the UAE. 
Across a plot of land spanning 223,000 sq ft, the factory will produce a range of intravenous solution products to serve markets across the GCC and Africa when it is opened in 2025. 
The signing took place at the third edition of Make it in the Emirates (MIITE) Forum, organised by the Ministry of Industry and Advanced Technology (MoIAT) in cooperation with Abu Dhabi Department of Economic Development and Adnoc in Abu Dhabi from May 27 to 28. 
The ceremony was witnessed by Sarah Al Amiri, UAE Minister of State for Public Education and Advanced Technology, Omar Al Suwaidi, Undersecretary of Ministry of Industry and Advanced Technology, alongside Malek Al Malek, Chairman of TECOM Group, Abdulla Belhoul, Chief Executive Officer of TECOM Group, and Saud Abu Alshawareb, Executive Vice President of Industrial at TECOM Group.
Growing attactiveness
The agreement reflects Dubai Industrial City’s growing attractiveness to international investors and manufacturers. The business destination nurtures innovation to accelerate globally impactful excellence with the support of the Industrial Partnership for Sustainable Economic Development between the UAE, Egypt, Jordan, Bahrain, and Morocco, which aims to diversify the regional economy and increase the competitiveness of the industrial sector. 
MD Pharma Factory’s partnership with Dubai Industrial City is also aligned with national strategic visions including Operation 300bn, Make it in the Emirates, and Dubai Economic Agenda ‘D33’. 
The new agreement is part of a series of successes for Dubai Industrial City, which has attracted investments worth more than AED2.8 billion within 18 months amid its continued commitment to expand its ecosystem and cementing its position as the region’s leading manufacturing and logistics hub. 
“There is no substitute for lasting value that is created by fostering a robust homegrown manufacturing sector,” said Alshawareb. 
Welcoming new partners
“Collaboration is crucial to encourage the co-creation of such long-term impact through manufacturing industry investments, and the UAE and Dubai are well-placed international investment hubs to drive global cooperation towards this goal. Through our support of initiatives like Operation 300bn, Make it in the Emirates, and Dubai Economic Agenda ‘D33’, we are actively championing an environment where the world’s most intelligent minds can come together to live, work, and invest in Dubai’s high potential. Dubai Industrial City is committed to helping its customers unlock new opportunities for growth and we welcome our new partners as our ecosystem powers the journey of the ‘Made in UAE’ brandmark around the world.” 
International attractiveness
MD Pharma Factory, a Cairo-headquartered patient safety and healthcare business solutions provider, will expand to Dubai Industrial City as part of the agreement signed by Alshawareb on behalf of the manufacturing district with Dr Waleid Mohamed Nabil Deabes, owner of MD Pharma Factory. 
Participating as Diamond Sponsor of MIITE forum, Dubai Industrial City officially launched 13.9 million sq ft of additional land during the event amid rising local and regional demand for high-quality industrial capacity.
Dubai Industrial City, home to more than 1,000 local, regional, and international customers including Standard Carpets, Himalaya Wellness, IFFCO Group, and Unilever, in addition to more than 300 operational factories, showcased the possibilities enabled by its sector-specific infrastructure and intelligently master planned ecosystem at the event. 
Dubai Industrial City is part of TECOM Group’s portfolio of business destinations that include Dubai Internet City, Dubai Media City, Dubai Studio City, Dubai Production City, Dubai Knowledge Park, Dubai International Academic City, Dubai Design District (d3), and Dubai Science Park.--TradeArabia News Service


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