ADDED confirms medical projects worth $253mn are underway in Abu Dhabi
Government has identified 23 industrial areas for setting up factories
The Abu Dhabi Department of Economic Development (ADDED) has said that work is under way on 10 major projects in the emirate, valued at $253m. The industrial projects are linked to the pharmaceutical and medical sectors and aim to help the city achieve self-sufficiency in the health field.
The identification of investment areas is said to be part of the ‘Basic Industries’ project being implemented by ADDED’s Industrial Development Bureau, in collaboration with the Abu Dhabi Investment Office (ADIO), the Department of Health – Abu Dhabi, and the Abu Dhabi Health Services Company (Seha).
ADDED said the government has identified 23 industrial areas for setting up factories. The total number of licenses issued for medical manufacturing in the emirate reached 23 with an investment value of $542m. Among these investment areas, 14 belong to new industries in the market, while the other nine are already existing ones, the statement noted.
Chairman Mohammed Ali Al Shorafa said that the ‘Basic Industries’ project seeks to create new investment opportunities and promote self-sufficiency in the food, health, industry and energy sectors. Of the 23 areas identified for investment in the health sector, nine belong to pharmaceuticals, six are related to existing areas, while the rest are newly emerging, remarked Shorafa.
Rashed Abdul Karim Al Balooshi, undersecretary of ADDED, noted that while 10 projects are under construction, 13 projects have reached production status with an investment value of $291m.
Factories that have licenses with production status are identified as five for the production of medical protection supplies with $72.9m as investment value; four specialised in pharmaceutical production with an investment value of $127.1m million; and four factories for the production of medical devices and equipment with an investment value of $90.9m, he noted.
ADIO Director General Dr Tariq Bin Hendi said the new investment areas represent a wealth of new possibilities for investors and manufacturers looking to set up base in Abu Dhabi. He added, “In particular, the thriving healthcare sector offers sizeable commercial opportunities for investors, and ADIO is here to help these companies.”
