UAE Ministry of Industry continues industrial sector engagement drive

Dubai-based Global Pharma is 'outstanding Emirati model for excellence', says Dr Sultan Al Jaber

Dr. Sultan Al Jaber, Minister of Industry and Advanced Technology, visited Global Pharma. Source: Global Pharma
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The UAE Ministry of Industry and Advanced Technology is continuing its drive to engage with industrial sector, as part of efforts to boost the sector’s contribution to the economy.

Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, visited Global Pharma, a company wholly owned by Dubai Investments, "as part of a series of visits across the national industrial sector", the ministry said on Sunday.

The visit aligned with the MoIAT's goal to boost the growth and competitiveness of national industries, with a focus on vital sectors such as pharmaceuticals, the ministry added.

Global Pharma is playing a crucial role in meeting the needs of the local market, said Dr Sultan Al Jaber, Minister of Industry and Advanced Technology.

“The industrial sector has undergone significant developments in recent years, enhancing its contribution to diversifying and expanding the national economy, and strengthening the UAE’s position as a regional and global hub for industrial investments,” said Dr Al Jaber, also the managing director and group chief executive of Adnoc.

“Global Pharma is an outstanding Emirati model for excellence in the pharmaceutical industry, given the quality, reliability and competitiveness of its products which are exported to global markets,” he said.

“The ministry is pleased to see Global Pharma’s journey of growth and innovation, as well as its key role in meeting the needs of the local market.”

Global Pharma, located in Dubai Investment Park, was founded in 1998 and has an annual production capacity of 300 million tablets, 150 million capsules, and more than 7 million litres of dry and liquid pharmaceuticals.

The company manufactures and distributes pharmaceutical products including cardiovascular, anti-ulcer, anti-diabetic, and anti-inflammatory medications.

It is the UAE’s second largest pharmaceutical company and the first to be established in Dubai.

The UAEindustrial sector’s contribution to gross domestic product reached about Dh197 billion ($53.64 billion) last year, with the country achieving 30 per cent of Operation 300bn’s target since its 2021 launch, officials said last week.

The Emirates’ industrial exports increased by 17 per cent, recording 7 per cent growth in productivity since the launch of the programme and reaching Dh187 billion in 2023, the Ministry of Industry and Advanced Technology said.

The UAE launched its industrial strategy, Operation 300bn, to position the country as an industrial centre by 2031. The 10-year strategy focuses on increasing the industrial sector’s contribution to GDP to Dh300bn by 2031, from Dh133 billion in 2021.

In October, Dr Al Jaber visited NWTN, the UAE electric car maker based in Abu Dhabi's Khalifa Economic Zones, known for producing the Rabdan.

He also inaugurated Standard Carpets Industries’ new factory, Standard Turf, at Dubai Industrial City.

Standard Carpets is one of the world's largest producers and exporters of carpets, rugs and artificial grass.

Updated: January 28, 2024, 11:30 AM