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UAE Freezones Biz News Updates
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Jafza pharmaceutical and healthcare sector in spotlight at Arab Health
2018
Jafza, Dubai and the UAE’s flagship trade and logistics hub for
the MENA region, will be showcasing the growth opportunities it offers to
the healthcare and pharmaceutical industry at the Arab Health 2018
Conference and Exhibition from Jan.29 to Feb.1.
Jafza is home to some of the world’s leading healthcare multinationals and
it is taking part in the region’s largest gathering of healthcare and trade
professionals, highlighting its strengths as the destination of choice for
business and the value-added benefits it delivers as an integrated business
and industry hub of global trade enabler, DP World.
The volume of trade in the healthcare and pharmaceutical sectors at Jafza
was Dhs14.2 billion ($3.86 billion) in 2016, accounting for nearly a quarter
of the UAE’s health spend of Dhs59 billion ($16.1 billion) in that year.
Sultan Bin Sulayem, Chairman and CEO of DP World, said, Healthcare and
pharmaceuticals are key strategic targets in the Dubai Industrial Strategy
2030. As a trade and logistics hub, Jafza fully supports this vision and we
are determined to help it grow. The free zone is already the regional
headquarters for many international healthcare companies and as part of our
efforts, we are engaging with pharmaceutical and medical equipment companies
to encourage them to transfer manufacturing facilities, knowledge and
research centres to Jafza and other DP World industrial park facilities,
which offer world-class services and support systems.
DP World is committed to creating an ideal business investment environment
through industry-specific initiatives and incentives and we are fully behind
the government’s aim of making Dubai an international hub for
knowledge-based, innovative and sustainable industrial activities. Our
participation in Arab Health 2018 will highlight the prospects for global
healthcare majors in the region as we seek to attract more investors to this
thriving business community.
According to a recent BMI Research report, the UAE's pharmaceutical and
healthcare markets are among the regional best performers in the Middle East
and North Africa, MENA, region.
The report forecasts that in the UAE the sector will grow from $16.96
billion in 2017 to $17.88 billion this year, before hitting $21.27 billion
in 2021. For the MENA region, it forecasts growth from 174.43 billion in
2017 to 182.43 billion in 2018 and 213.1 billion by 2021.
Jafza is home to 306 healthcare and pharmaceutical companies from 54
countries. The sector provides employment to 3,600 people and has recorded
robust growth consistently over the past decade.
Almost a third of these companies are from the Middle East, 23 percent are
from Europe, and 22 percent are from Asia, while North American and African
companies comprise 11 percent each.
Jan 27, 2018 |
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Courtesy WAM
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