Dr Amin Al Amiri, undersecretary for the health regulation sector, and Mohamed Ezz Eldin, president and head of the Gulf cluster at Novartis, sign the training programme agreement in the presence of Dr Mohammad Salim Al Olama, undersecretary of the Ministry of Health and Prevention. Photo: Ministry of Health and Prevention
Dr Amin Al Amiri, undersecretary for the health regulation sector, and Mohamed Ezz Eldin, president and head of the Gulf cluster at Novartis, sign the training programme agreement in the presence of Dr Mohammad Salim Al Olama, undersecretary of the Ministry of Health and Prevention. Photo: Ministry of Health and Prevention
Dr Amin Al Amiri, undersecretary for the health regulation sector, and Mohamed Ezz Eldin, president and head of the Gulf cluster at Novartis, sign the training programme agreement in the presence of Dr Mohammad Salim Al Olama, undersecretary of the Ministry of Health and Prevention. Photo: Ministry of Health and Prevention
Dr Amin Al Amiri, undersecretary for the health regulation sector, and Mohamed Ezz Eldin, president and head of the Gulf cluster at Novartis, sign the training programme agreement in the presence of D

UAE and Novartis announce special training scheme for Emirati graduates


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The UAE has teamed up with a global healthcare company to introduce a 12-month training programme for Emirati graduates as part of a major drive to increase the number of citizens working in the private sector.

The Ministry of Health and Prevention will work with Switzerland-based Novartis to pave the way for more Emiratis to secure employment in the industry.

Under the partnership, citizens with pharmacy degrees will receive a monthly stipend from the company and have the opportunity to apply for full-time positions or join other international pharmaceutical companies operating in the country.

It was not revealed when the training programme would begin.

The UAE set out plans in September last year to ensure citizens comprise at least 10 per cent of the private sector workforce within the next five years.

A series of initiatives were launched to increase the number of Emirati workers in the private sector by 75,000, by 2026, as part of the Nafis programme.

These included paid training programmes, subsidies for Emiratis working in the private sector and support for entrepreneurs looking to leave the public sector and start up their own companies.

Dr Amin Al Amiri, undersecretary for the health regulation sector, and Mohamed Ezz Eldin, president and head of the Gulf cluster at Novartis, signed the agreement in the presence of Dr Mohammad Salim Al Olama, undersecretary of the Ministry of Health and Prevention.

“We are committed to developing and qualifying national cadres in the medical and pharmaceutical fields," said Dr Al Olama.

He said the ministry was "encouraging major medical companies to attract and invest in national talents of pharmacy graduates" and to provide opportunities "for them to explore job opportunities and gain qualitative expertise and skills".

Dr Al Amiri said the programme will deliver crucial support to graduates and provide a launch pad for careers in the private healthcare sector.

UAE steps up Emiratisation campaign

The UAE is to cut some worker permit fees for private sector companies that voluntarily exceed Emiratisation targets, it was announced last month.

This means that companies that go above and beyond what is legally required will pay only Dh250 for certain permits rather than Dh3,750.

The move comes as part of a new private sector company classification system that is being introduced by the Ministry of Human Resources and Emiratisation.

The UAE Cabinet last month decreed that companies with more than 50 employees should have a 2 per cent Emirati workforce by next year, moving to up to 10 per cent by 2026.

A guide to Emirati benefits in private sector – in pictures

  • Rashed Abdulla Al Sumaity, an associate at Galadari Advocates & Legal Consultants in Dubai. The legal and banking professions have the highest Emiratisation in the private sector. All photos by Victor Besa / The National
    Rashed Abdulla Al Sumaity, an associate at Galadari Advocates & Legal Consultants in Dubai. The legal and banking professions have the highest Emiratisation in the private sector. All photos by Victor Besa / The National
  • Official announcements show the UAE government’s resolve to encourage citizens to take on private sector jobs and persuade companies to take Emiratis on board.
    Official announcements show the UAE government’s resolve to encourage citizens to take on private sector jobs and persuade companies to take Emiratis on board.
  • Raka Roy (R), partner at Galadari Advocates & Legal Consultants and Eslam Oraif, legal counsel, break down the government announcements that offer extra salary and benefits to UAE citizens taking jobs in the private sector.
    Raka Roy (R), partner at Galadari Advocates & Legal Consultants and Eslam Oraif, legal counsel, break down the government announcements that offer extra salary and benefits to UAE citizens taking jobs in the private sector.
  • Rashed Abdulla Al Sumaity (R) with Eslam Oraif of Galadari Advocates & Legal Consultants. The UAE government's Nafis scheme has set a target of 75,000 Emiratis in private sector jobs by 2026.
    Rashed Abdulla Al Sumaity (R) with Eslam Oraif of Galadari Advocates & Legal Consultants. The UAE government's Nafis scheme has set a target of 75,000 Emiratis in private sector jobs by 2026.
  • The UAE Cabinet approved that private companies with more than 50 employees should have at least a 2 per cent Emirati workforce by 2021.
    The UAE Cabinet approved that private companies with more than 50 employees should have at least a 2 per cent Emirati workforce by 2021.
  • UAE government support programmes will empower and protect Emirati employees in the private sector.
    UAE government support programmes will empower and protect Emirati employees in the private sector.
  • Salary incentives are being offered to Emirati university graduates and UAE citizens in training for skilled jobs.
    Salary incentives are being offered to Emirati university graduates and UAE citizens in training for skilled jobs.

Motori Profile

Date started: March 2020

Co-founder/CEO: Ahmed Eissa

Based: UAE, Abu Dhabi

Sector: Insurance Sector

Size: 50 full-time employees (Inside and Outside UAE)

Stage: Seed stage and seeking Series A round of financing 

Investors: Safe City Group

Profile of Tamatem

Date started: March 2013

Founder: Hussam Hammo

Based: Amman, Jordan

Employees: 55

Funding: $6m

Funders: Wamda Capital, Modern Electronics (part of Al Falaisah Group) and North Base Media

Company%20Profile
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

In-demand jobs and monthly salaries
  • Technology expert in robotics and automation: Dh20,000 to Dh40,000 
  • Energy engineer: Dh25,000 to Dh30,000 
  • Production engineer: Dh30,000 to Dh40,000 
  • Data-driven supply chain management professional: Dh30,000 to Dh50,000 
  • HR leader: Dh40,000 to Dh60,000 
  • Engineering leader: Dh30,000 to Dh55,000 
  • Project manager: Dh55,000 to Dh65,000 
  • Senior reservoir engineer: Dh40,000 to Dh55,000 
  • Senior drilling engineer: Dh38,000 to Dh46,000 
  • Senior process engineer: Dh28,000 to Dh38,000 
  • Senior maintenance engineer: Dh22,000 to Dh34,000 
  • Field engineer: Dh6,500 to Dh7,500
  • Field supervisor: Dh9,000 to Dh12,000
  • Field operator: Dh5,000 to Dh7,000

COMPANY PROFILE

Name: Rain Management

Year started: 2017

Based: Bahrain

Employees: 100-120

Amount raised: $2.5m from BitMex Ventures and Blockwater. Another $6m raised from MEVP, Coinbase, Vision Ventures, CMT, Jimco and DIFC Fintech Fund

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Updated: June 03, 2022, 11:08 AM