Pure Health joins National In-Country Value Program and signs agreement with MoIAT
• Step to promote local manufacturing in line with UAE’s ‘Projects of the 50’ strategy
• Agreement signed in the presence of the Minister of Industry and Advanced Technology
As part of the agreement, Pure Health has committed AED 10 billion over the next 10 years in local procurement in line with the national industrial strategy which supports the localization of supply chains by redirecting higher portions of public spending into the local economy.
The signing was witnessed by H.E. Dr. Sultan bin Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology. The agreement was signed by H.E. 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.
As part of the agreement, Pure Health and MoIAT will collaborate on initiatives to stimulate local industrial content, capitalize in opportunities within the healthcare sector, and conduct training programs to upskill the national workforce.
H.E. Omar Al Suwaidi said: “The agreement with Pure Health is a huge boost to the National ICV Program, which aims to redirect expenditure from leading national companies and government entities into the local economy by prioritizing local suppliers. Currently, 45 government entities, six leading national companies, and 5,500 local industrial companies are participating in the program. And in the first year of its implementation at the federal level, the National ICV Program succeeded in redirecting more than 40 billion dirhams 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 localizing 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.”
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 the Ministry of Industry & Advanced Technology is a pivotal step in our long-term plan to localize 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.”
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 localization, 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 dirhams annual to the national GDP annually.
Localizing 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 emphasizes 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.
June 22, 2022