Government-led initiatives in healthcare, digital transformation and sustainability are cementing Dubai’s reputation as a global destination for entrepreneurship and investment, the managing director of Dubai Science Park said
Coronavirus has raised global awareness on the value of a dynamic healthcare sector and the role of technology in realising that with the UAE, and Dubai, being no exception.
The city’s biomedical and pharmaceutical companies played a vital role in the UAE’s response to the pandemic and continue to do so today with Dubai Science Park’s managing director, Marwan Abdulaziz Janahi telling Arabian Business that Dubai’s pharmaceutical industry is set to grow from $2.6 billion to $6.8bn by 2025.
In an exclusive interview, Janahi also talks about Operation 300bn, a 10-year strategy to more than double the industrial sector’s contribution to UAE’s GDP, and the role pharmaceuticals will play in achieving its targets
What are the opportunities for pharmaceutical production in Dubai and how is DSP supporting that?
The pharmaceutical sector in the region is growing rapidly, and opportunities are ripe for businesses in manufacturing, distributions and research.
The Dubai government is driving it with plans to reduce pharmaceutical imports by 18 percent from $4billion and attract $2.5bn in pharmaceutical investments by 2022. There is particular focus on attracting manufacturing “super generics,” nutraceuticals, 3D implants and blood plasma. Thanks to such attention and activity, the market value of the city’s pharmaceutical industry is set to grow from $2.6bn to $6.8bn by 2025.
We are seeing Dubai’s increasing attractiveness as a hub for pharma manufacturing and R&D through the lens of our own business district. In 2021, 38 percent of the new companies that registered in Dubai Science Park were pharmaceutical manufacturers, including Biocon, India’s largest biopharmaceutical company developing medicine to treat diabetes, cancer and autoimmune diseases.
The landscape for innovation is also being cultivated extensively. DSP-based business partners Acino, a Swiss pharma company, and UAE-grown pharmaceutical company, Pharmax, launched the first locally manufactured anti-cholesterol drug for the prevention and treatment of cardiovascular disease, demonstrating Dubai’s expanding landscape for locally produced pharmaceuticals and innovative partnerships.
Another business partner, Alliance Care Technologies International, is collaborating with Secondcell Bio to accelerate cutting-edge research focused on cell technology and rapid drug discovery to combat rare genetic diseases in the UAE.
Dubai Science Park supports innovation by providing the right enabling environment to foster growth and development in pharma, health and wellness. The community’s robust infrastructure and collaborative environment enable success and collaboration, driving the industry forward by attracting and nurturing skilled talent and business.
We also have a Laboratory Complex designed to serve businesses in the science sector whose activities range from research and product development, testing, diagnostics, manufacturing and production.
How is DSP contributing to the realisation of Operation 300 bn?
With ample office and laboratory space, infrastructure and a vibrant community, Dubai Science Park’s integrated ecosystem plays a key role in enabling the Operation 300bn strategy.
We continually invest in our environment to support scientifically minded entrepreneurs, SMEs and international businesses in pushing the boundaries of science, health and technology.
Healthcare, renewable energy and production are key drivers of the strategy as well as our district. As I previously mentioned, a number of our business partners are locally manufacturing medicines as well as medical devices in our district to be used nation-wide and exported to the greater region. We will also be home to three R&D facilities to be completed in 2022, helping establish an integrated R&D ecosystem that reinforces the UAE’s position as a global destination for technology and innovation.
We will also continue delivering new ways for our community of more than 400 companies and over 4,000 professionals to come together and share knowledge, nurture future-minded talent and inspire collaboration. Along with participating in major exhibitions such as Arab Health, we also host community-wide advanced health sessions that shed light on a number of valuable topics and insights critical to the success of the strategy.
Can you comment on Dubai’s recent initiatives aimed at attracting innovators, start-ups etc. and how they support the growth of the city’s healthcare industry?
Dubai has always been at the forefront of cities in MENA attracting skilled talent and entrepreneurs from the region and beyond. Our business-friendly policies such as 100 percent ownership, tax-free benefits and the like are world-renowned, and Dubai’s government continues enhancing the offerings to engage businesses and investors.
The 10-year Golden visa scheme is a key example of the country attracting and retaining investors, entrepreneurs, specialised talent and researchers to support greater innovation and creativity in the long-term. Government-led initiatives in healthcare, digital transformation and sustainability are enriching the landscape of opportunity and cementing Dubai’s reputation as a global destination for entrepreneurship and investment. Plus, the new workweek shift to Mondays through Fridays aligns us with major global markets and trading activities, enabling more cross-border collaborations, and supporting more industries, stakeholders and investors located in various time zones.
Business districts like ours add another essential layer to the city’s attractiveness with easy set-up and business-friendly policies. Entrepreneurs and businesses have plenty of opportunities to collaborate, innovate and engage one another at networking events, industry talks and panels. Start-ups and SMEs account for 50 percent of all business partners in our community and 50 percent of our new registrations in 2021 were start-ups.
How has coronavirus impacted Dubai’s healthcare industry?
The coronavirus pandemic was a challenging time for healthcare industries worldwide, the UAE included. From staff to medicine availability, the logistical strain on the system was immense and it demonstrated the need for meticulous planning and technological support to protect us from unprecedented situations in the future. However, the UAE government’s swift, multi-pronged response to Covid-19 greatly helped relieve pressures on the healthcare industry. Early implemented lockdown to curb the virus’ spread paired with a robust national vaccination programme allowed us to reopen business and tourism markets at a much faster rate than other countries.
Our nation currently ranks third of 53 countries in Bloomberg’s Covid Resilience ranking, which measures countries on 12 indicators such as healthcare quality, virus mortality and reopening travel. This is as much a testament to our leadership’s foresight as it is evidence of our healthcare industry’s resilience. Few things attest to this more than the construction of the AED700 million Neuro Spinal Hospital in our district in 2021. The new facility features featuring an advanced cancer centre and neuro-rehabilitation space as well as treatment options only available abroad.
Medical and biotechnology companies in Dubai Science Park played a significant role in flattening the coronavirus curve. Next-generation genomics company, Agiomix, worked closely with government entities and the Dubai Health Authority in clinical testing of covid-19, while Bio-Rad Middle East produced diagnostic products and distributed them to healthcare customers in Africa, the Middle East and other parts of the world. Even now, many of our business partners work tirelessly to reduce the spread of new variants. Astragene, the Middle East’s first Molecular Diagnostics Manufacturing Company, is manufacturing testing kits and Agiomix is providing reliable Covid-19 testing services in our district.
SOURCE: arabianbusiness.com