DIC attracts AED 2.8bn in industrial investments in 18 months
Dubai Industrial City (DIC)has signed an agreement with MD Pharma Factory during the third edition of Make it in the Emirates Forum, organised by the Ministry of Industry and Advanced Technology (MOIAT) in cooperation with Abu Dhabi Department of Economic Development and ADNOC in Abu Dhabi.
Valued at more than AED 130mn, the agreement reflects DIC’s growing attractiveness to international investors and manufacturers. MD Pharma Factory’s partnership with Dubai Industrial City is also aligned with national strategic visions including Operation 300bn, Make it in the Emirates, and Dubai Economic Agenda ‘D33’.
The new agreement is part of a series of successes for DIC, which has attracted investments worth more than AED 2.8bn within 18 months amid its continued commitment to expand its ecosystem and cementing its position as the region’s leading manufacturing and logistics hub.
Long-term impact
“Collaboration is crucial to encourage the co-creation of such long-term impact through manufacturing industry investments, and the UAE and Dubai are well-placed international investment hubs to drive global cooperation towards this goal,” commented Saud Abu Alshawareb, Executive Vice President, Industrial, TECOM Group.
MD Pharma Factory, a Cairo-headquartered patient safety and healthcare business solutions provider, will expand to Dubai Industrial City as part of the agreement signed by Saud Abu Alshawareb on behalf of the manufacturing district with Dr. Waleid Mohamed Nabil Deabes, Founder-Owner, MD Pharma Factory.
The agreement will enable the development of the first Egyptian medicine manufacturing facility in the UAE across a land plot spanning 223,000sqft and upon launch in 2025, the factory will produce a range of intravenous solution products to serve markets across the GCC and Africa.
