Home » Officials hail outcomes of Higher Committee meeting of Integrated Industrial Partnership for Sustainable Economic Development

Officials hail outcomes of Higher Committee meeting of Integrated Industrial Partnership for Sustainable Economic Development

by Dubaiforum

ABU DHABI, 27th February, 2023 (WAM) — Officials affirmed that the third Higher Committee meeting of the Integrated Industrial Partnership for Sustainable Economic Development will enhance the industrial sector’s contribution to the GDP in the partner countries, and provide many quality job opportunities, in addition to the establishment of complementary industrial entities that support growth and prosperity.

The 3rd Higher Committee meeting, which was held yesterday in the Jordanian capital Amman with the participation of the UAE, Jordan, Egypt and Bahrain, witnessed the signing of 12 agreements across 9 industrial projects with an investment value exceeding US$2 billion.

The meeting was chaired by the ministers of industry in the four countries, and attended by Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and UAE’s Special Envoy for Climate Change.

The Higher Committee approved the recommendations of the Executive Committee and its report, in addition to a package of qualitative industrial projects in various sectors.

Dr. Majida Al Azazi, Chairwoman of M Glory Holding, said, “We are very pleased to cooperate with our partners on this large industrial project, which enhances the industrial partnership between the UAE, Egypt, Jordan and Bahrain. The project will support the Arab industrial sector and benefit from the expertise, manpower and capabilities of the partner countries.

“In addition, the industrial partnership between the four countries will create an important new force in the field of electric vehicle manufacturing in the Middle East. This key sector will witness a quantum leap thanks to the vision and support of the leadership of the member countries. We aim to further develop the automotive industry in our region, promoting the industry both regionally and globally.”

Dr. Al Azazi noted that the economic partnership between the four countries has provided an opportunity to support and develop the industrial sector, including the automotive industry.

She explained that this cooperation will help diversify the economy, provide job opportunities, and contribute to sustainable economic development and reducing carbon emissions.

“This large investment project will transform the automotive industry. While we plan to manufacture compact crossovers during the first phase of the project, subsequent phases will include the manufacturing of more diversified models in larger numbers to meet the needs of the four member countries, while exploring new regional and global markets,” Dr. Al Azazi concluded.

Ashraf Radwan, CEO of GlobalOne Healthcare Holding, stated, “Bioventure is pleased to be part of the Integrated Industrial Partnership for Sustainable Economic Development alongside our esteemed partners in Egypt, Jordan, and Bahrain. These kinds of collaborations represent a major step forward for industry in the region and towards realising its full potential.”

He added, “The strategic MoU between Bioventure and Amman Pharmaceutical Industries will leverage and strengthen the existing strategic relationship between the Parties for potential licensing of new product portfolios and tech transfer of selected ophthalmology products in the Middle East region. The partnership will open doors to other potential business opportunities, such as manufacturing (fill and finish) of ophthalmology products in the Middle East region and subsequently expand further discussion to other aspects such as tech transfer, research and development of ophthalmology products thereby creating accessibility of patients to affordable biosimilars.”

“Our combined focus on developing innovative and sustainable solutions, coupled with our shared ventures, will significantly impact building a brighter future for all,” Radwan noted.

Khalid bin Kalban, Vice Chairman and CEO of Dubai Investments, commented, “Dubai Investments strong foundation, bolstered with dynamic partnerships, diverse business portfolios and a steady growth over the years, has propelled the Group’s businesses to be competent contributors, ready to facilitate new horizons for economic development across the region. The MoU’s signed by the Group’s pharmaceutical (Globalpharma) and glass (Emirates Float Glass) companies as part of the industrial strategy confirm Dubai Investments commitment to strategic partnerships, representing clear goals for the short to long-term with a model of cooperation at regional levels. It also reiterates the valuable support extended on enhancing industrial GDP contribution, uncovering new ways of achieving growth and prosperity.”

Abdulnasser bin Kalban, Chief Executive Officer of Emirates Global Aluminium (EGA), said, “EGA already enjoys well-established relationships with companies in Bahrain, Egypt and Jordan, ranging from supplying our UAE-developed technology to sourcing materials. This Partnership is a platform to expand our cooperation much further. We look forward to many opportunities to work together in line with the guidance of our wise leaders to grow industrial activity in all countries for the benefit of our nations’ people.”

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