Latest: Hayat-Vax - UAE drug firm already making Sinopharm vaccine under new name
Sheikh Abdullah bin Zayed, Minister of Foreign Affairs and International Co-operation, and China's Foreign Minister Wang Yi launched the first Covid-19 vaccine production line in the UAE on Sunday.
The joint project, called 'Life Sciences and Vaccine Manufacturing in the UAE', will be led by Group 42 in partnership with Chinese drug maker Sinopharm.
The ceremony in Abu Dhabi was attended by Reem Al Hashimy, Minister of State for International Co-operation, and Ahmed Al Sayegh, Minister of State.
"The UAE and China today inaugurated a new chapter in their historic and distinguished relations, under the title 'Strategic Partnership for Humanity'," Sheikh Abdullah said.
"Today we celebrate the significant milestones achieved by our strategic partnership across all levels. We are continuing the efforts that we initiated at the onset of the Covid-19 crisis.
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Inside Sinopharm's vaccine factory - in pictures
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"A partnership that sets an example to be emulated for collaboration between friendly nations in times of crises.
"The joint project is an added value to the international efforts being made in the face of the Covid-19 crisis which has been taking a toll on everyday lives across the world."
Addressing the ceremony Liu Jingzhen, chairman of Sinopharm, said the UAE and China were supporting global efforts to overcome the pandemic.
"Today we are making large strides in the global battle against Covid-19," Mr Liu said.
"And this pioneering project is the fruit of close co-operation and strategic partnership between the UAE and China and their leading efforts in fighting this crisis.
"By taking this step, the UAE has paved the way for the registration and commercial production of Sinopharm’s vaccine in an embodiment of the significant efforts made by the two friendly nations to recover from the crisis.
"We are very proud of this partnership with G42. This project will play a significant role in confronting the Covid-19 pandemic in the UAE, the Arab region and the entire world."
Peng Xiao, chief executive of G42, which oversaw Phase 3 trials of the Sinopharm vaccine in the UAE, said the initiative would "revolutionise the life sciences industry in the region over the coming years".
"G42 and CNBG [Sinopharm] have made significant achievements since 2020 thanks to their common vision and values," Mr Peng said.
Sheikh Abdullah and Mr Wang then announced the official launch of the project, which is the first Covid-19 vaccine production line in the UAE.
The two ministers carried a prototype of the new vaccine and took a commemorative photo before attending a live-streaming session from the vaccine production site.
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Tips for newlyweds to better manage finances
All couples are unique and have to create a financial blueprint that is most suitable for their relationship, says Vijay Valecha, chief investment officer at Century Financial. He offers his top five tips for couples to better manage their finances.
Discuss your assets and debts: When married, it’s important to understand each other’s personal financial situation. It’s necessary to know upfront what each party brings to the table, as debts and assets affect spending habits and joint loan qualifications. Discussing all aspects of their finances as a couple prevents anyone from being blindsided later.
Decide on the financial/saving goals: Spouses should independently list their top goals and share their lists with one another to shape a joint plan. Writing down clear goals will help them determine how much to save each month, how much to put aside for short-term goals, and how they will reach their long-term financial goals.
Set a budget: A budget can keep the couple be mindful of their income and expenses. With a monthly budget, couples will know exactly how much they can spend in a category each month, how much they have to work with and what spending areas need to be evaluated.
Decide who manages what: When it comes to handling finances, it’s a good idea to decide who manages what. For example, one person might take on the day-to-day bills, while the other tackles long-term investments and retirement plans.
Money date nights: Talking about money should be a healthy, ongoing conversation and couples should not wait for something to go wrong. They should set time aside every month to talk about future financial decisions and see the progress they’ve made together towards accomplishing their goals.
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