UAE In-Focus—Industry Ministry signs $70.8m deals to boost domestic medical equipment production

RIYADH: The UAE’s Ministry of Industry and Advanced Technology has signed memoranda of understanding worth an accumulated 260 million dirhams ($70.8 million) with key pharmaceutical and medical devices firms in the emirate to increase domestic production of medical equipment, Emirates News Agency WAM reported. 

The deals fall in line with the National Strategy for Industry and Advanced Technology as well as the National In-Country Value Program, both of which aim to lure investors and producers to the UAE’s pharmaceutical and medical equipment sectors. 

Biofuels factory launched 

The Circular Economy Council has announced the launch of the Lootah Biofuels factory in Dubai Industrial City, Zawya reported. 

By utilizing cutting-edge global technologies, the new factory will work on assembling used cooking oil, treating it, and converting it to biodiesel at a competitive price point when compared to regular diesel.

The plant is expected to boost biodiesel production capacity in the country by 100 tons daily. This falls in line with the UAE’s objective of attaining 5 percent of transportation fuel from food waste and other biofuel resources. 

M7 Real Estate opens office 

British capital market firm M7 Real Estate Limited has announced its first office in Dubai amid efforts to expand its presence in the Middle East & North Africa, Zawya reported. 

There is a high demand from investors in the MENA region for premium European real estate.

Located in the Dubai International Financial Centre, the new M7 office will focus on flourishing its capital raising function, as well as further developing existing investor relationships in the region.

DIEZ forms partnership with DP World 

The Dubai Integrated Economic Zones Authority, or DIEZ, has announced that it has partnered with Emirati multinational logistics firm DP World to bolster the Tumoohi training program, according to the Government of Dubai Media Office. 

The Tumoohi initiative aims to help young and capable Emiratis develop crucial skills and competencies that will give them an edge in today’s highly competitive job market. 

Under the new collaboration, DIEZ will ensure that applicants receive professional and practical hands-on experiences and opportunities that will help elevate their career paths. 

 

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