The Abu Dhabi Department of Economic Development (ADDED) has said that it had issued 23 licences for medical manufacturing in the UAE capital at an investment value of $542.3m (AED1.992bn), with 10 of the facilities currently under-construction.
According to Rashed Abdul Karim Al Balooshi, undersecretary of ADDED, the total investment value of the under-construction facilities is $253.7m (AED932m), the UAE’s state-held Emirates News Agency (Wam) reported.
Meanwhile, 13 other facilities have reached the production status with an investment value of $299.4m (AED1.069bn). Additionally, there are five factories that have licences to produce medical protection supplies with $73m (AED268m) as investment value.
The announcement comes as ADDED identified 23 industrial areas for investment mainly in the pharmaceutical and medical industries to achieve self-sufficiency in Abu Dhabi’s health sector.
The identification of investment areas is part of the ‘Basic Industries’ project being implemented by ADDED’s Industrial Development Bureau (IDB) in collaboration with Abu Dhabi Investment Office (ADIO), the Department of Health – Abu Dhabi (DoH), and the Abu Dhabi Health Services Company (SEHA).
Speaking about the project, Mohammed Ali Al Shorafa, chairman of ADDED, said that the ‘Basic Industries’ project seeks to create new investment opportunities and promote self-sufficiency in the food, health, industry, and energy sectors.
Al Shorafa noted that the project has been implemented in accordance with the directives of the Abu Dhabi Government that is aimed at achieving sustainable economic development and increasing the contribution of the non-oil sectors to the emirate’s gross domestic product (GDP).
Al Shorafa explained that among the 23 areas identified for investment in the health sector, nine of them belong to pharmaceuticals, six of which are related to existing facilities, while three others are upcoming.
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