UAE announces industrial deals worth AED 260 million to manufacture medical equipment locally

UAE announces industrial deals worth AED 260 million to manufacture medical equipment locally

ABU DHABI, 21st October, 2022 (WAM) -- The Ministry of Industry and Advanced Technology (MoIAT) today announced the signing of a pair of memoranda of understanding (MoU) worth AED260 million ($70.8 million) between major pharmaceutical and medical devices companies in the UAE.

Signed in the presence of Sarah bint Youssef Al Amiri, Minister of State for Public Education and Advanced Technology, the partnerships are in line with the National Strategy for Industry and Advanced Technology and the ICV Program, which aim to attract investors and manufacturers to the UAE’s pharmaceutical and medical equipment sectors, among others.

Under the partnerships, PureHealth, one of the largest healthcare providers in the UAE and a member of the ministry's National ICV Program, will work with Abu Dhabi Medical Devices Company (ADMD), which is a subsidiary of Abu Dhabi National Industrial Projects, as well as Abu Dhabi Ports Group and Abu Dhabi Polymers Company (Borouge) to establish a AED 110 million medical supplies production line in Abu Dhabi. Under the MoU, Borouge will provide raw materials while Abu Dhabi Ports Group will provide industrial land in ICAD 1 for the production of medical syringes, administration devices, and blood collection tubes.

Under a separate MoU, PureHealth and Gulf Pharmaceutical