Sunday 3 July 2022
 
»
 
»
Story

The agreement being signed

Pure Health commits $2.72 bn to local procurement

ABU DHABI, 11 days ago

Pure Health, the UAE’s largest integrated healthcare group, has committed AED10 billion ($2.72 billion) over the next 10 years in local procurement as part of its decision to join the National In-Country Value Programme.
 
Pure Health has signed an agreement with the Ministry of Industry and Advanced Technology (MoIAT) to join the programme, one of the key pillars of the country's industrial strategy.
 
As part of the agreement, which supports the localisation of supply chains by redirecting higher portions of public spending into the local economy, Pure Health and MoIAT will collaborate on initiatives to stimulate local industrial content, capitalise on opportunities within the healthcare sector and conduct training programmes to upskill the national workforce. 
 
Huge boost
The signing, on the second day of the Make it in the Emirates Forum, was witnessed by Dr Sultan bin Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology. The agreement was signed by Omar Al Suwaidi, Undersecretary of the Ministry of Industry and Advanced Technology, and Farhan Malik, Managing Director of Pure Health Group. 
 
The two-day forum, organised by MoIAT, in collaboration with the Abu Dhabi Department of Economic Development (Added), convenes major local and global industrial companies, government entities and financial institutions to discuss partnerships and opportunities to enhance the UAE’s industrial sector.
 
Al Suwaidi said: “The agreement with Pure Health is a huge boost to the National ICV Programme, which aims to redirect expenditure from leading national companies and government entities into the local economy by prioritising local suppliers. 
 
Pumps AED40 billion to the economy
“Currently, 45 government entities, six leading national companies, and 5,500 local industrial companies are participating in the programme. And in the first year of its implementation at the federal level, the National ICV Programme succeeded in redirecting more than AED40 billion into the national economy. 
 
Our leadership’s vision was the starting point of the national industrial strategy and to contribute to a diversified and sustainable economy that leverages the UAE’s competitive advantages. 
 
Part of the strategy includes localising supply chains to ensure continued business growth in priority sectors, including the healthcare sector. Covid has proven to us the importance of building resilient supply chains in healthcare and F&B.”
 
Elevating healthcare
Commenting on the agreement, Farhan Malik, Managing Director of Pure Health, said: “Pure Health is committed to elevating the healthcare landscape in the UAE and the region. Our purpose is clear – to support the industrial and manufacturing ecosystem in the UAE with an innovative model to realise the vision of our wise leadership, ensuring it keeps pace with future industry demands, trends, and innovation. 
 
“In line with this, our agreement with MoIAT is a pivotal step in our long-term plan to localise knowledge, as we are already a part of the 4th Industrial Revolution. We are future-proofing our healthcare system for a world of Technological Singularity, enhancing the self-sufficiency of domestic products, and establishing an infrastructure through the adoption of advanced technologies to enable the UAE to lead the way in futuristic industries and global competitiveness.”
 
Farhan added: “Our vision at Pure Health is to make the UAE the health capital of the world through our ‘Science of Longevity’ platform to enable people to live longer, healthier, and happier lives. In parallel with it, initiatives such as this commitment with MoIAT are aimed at supporting local industries and community as part of our roadmap to future proof our healthcare systems as well as our local businesses in line with our country’s vision.”
 
Growth of national industries
The forum, which includes panels and exhibitions, aims to promote the growth of national industries and discuss opportunities for partnership and cooperation in the industrial sector, in addition to presenting opportunities for product localisation, redirect the value of purchases into the national economy, and benefit from local purchasing power to develop the industrial sector.
 
The eleven sectors include metals, petrochemicals, chemical industries, plastics, machinery and equipment, defense industries, pharmaceutical industries, technology and medical equipment, communications, and agricultural technology. The over 300 new products introduced for local production will contribute over AED6 billion annually to the national GDP.
 
Localising these products is also expected to attract investments, promote the industrial sector and advanced technology, diversify the economy, enhance economic growth and sustainability, create new job opportunities and fortify supply chains.
 
The agreement emphasises the importance of coordination and cooperation between government institutions and the private sector in the UAE to develop constructive solutions and improve the country’s global competitiveness.-- TradeArabia News Service
 



Tags:

More Industry, Logistics & Shipping Stories

calendarCalendar of Events

Ads