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

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

- Partnerships include new factories and production lines in Abu Dhabi and Ras Al Khaimah to supply medicines and medical equipment to local, regional, and global markets

- MoUs follow Make it in the Emirates Forum that convened national companies in May to explore local manufacturing partnerships

Abu Dhabi, UAE: The Ministry of Industry and Advanced Technology (MoIAT) today announced the signing of a pair of memoranda of understanding (MoU) together worth AED 260 million ($70.8 million) between major pharmaceutical and medical devices companies in the UAE.

Signed in the presence of Her Excellency 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