UAE – PureHealth has pledged to invest AED13 billion (US$3.5 billion) in healthcare projects across the United Arab Emirates over the next ten years, increasing its investment by 30%.
In another development, the Department of Health Abu Dhabi (DoH), Pure Health and its subsidiary Rafed officially joined the National In-Country Value (ICV) program as strategic partners.
The National In-Country Value program is part of the Projects of the 50 and under the National Strategy for Industry and Advanced Technology in the United Arab Emirates.
The program aims to empower the industrial sector, improve its performance, and ensure its sustainability by increasing the In-Country Value of national industries and services.
Over the next decade, PureHealth’s contributions in the UAE will significantly outpace the integrated healthcare platform’s original 10-year commitment to local procurement.
“PureHealth will allocate the procurement opportunities across all buckets of its local procurement in Technology and General Services, along with Medical Consumables and Supplies,” the group said in a press release.
This total investment will be used to finance its procurement of diagnostic consumables, gastro and hepatobiliary systems, laboratory storage and packaging, patient care, and pharmaceuticals made in the UAE.
It is part of its commitment to the National In-Country Value Program, which is one of the key pillars of the national industrial strategy.
On his part, Managing Director and CEO of PureHealth, Farhan Malik said: “The National In-Country Value Program is an important long-term venture aimed at building a sustainable and prosperous future for the UAE.”
Last year, PureHealth pledged to spend AED10 billion (US$2.72 billion) in procuring healthcare products from local suppliers, including medicines and medical products.
PureHealth has now made an additional investment of AED3 billion (nearly US$1 billion) to the National In-Country Value Program, increasing its investment by 30%.
Following a partnership agreement with the Ministry of Industry and Advanced Technology (MoIAT), the additional investment will support PureHealth’s plans to purchase locally produced medical supplies.
It is in alignment with the National ICV program’s goal of growing and developing the UAE’s national industrial sector and boosting competitiveness in the pharmaceutical and medical supplies sectors.
As of 2022, ICV-certified companies contributed an estimated AED 53 billion (US$14.43 billion) to the national economy.
The National ICV Program continues to enhance integration between the MoIAT, government authorities, and private sector partners to stimulate entrepreneurship and innovation across the industrial sector.
For this reason, the program will support the resilience, performance, and sustainability of local industries and services.
This move aims to redirect spending from the public and private sectors back into the national economy, adding more value to local businesses.
Moreover, PureHealth will create procurement opportunities, and in turn, bring in economic and job opportunities for local talent in the UAE
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