Abu Dhabi Investment Office Organizes Field Visit for Delegation from China Chamber of Commerce for Import & Export of Medicines & Health Products
Trip to Abu Dhabi Industrial City follows memorandum of understanding signed between Abu Dhabi Investment Office and Chinese Business Council in July 2018
Visit aims to highlight investment opportunities within local pharmaceutical industry, enhance cooperation between companies specializing in development of medicines Delegation comprises key officials from 15 leading Chinese pharmaceutical companies
Abu Dhabi-UAE: 08 September, 2018 – In a bid to encourage Chinese drug manufacturers and exporters to explore investment opportunities within the burgeoning pharmaceutical sector in the UAE, Abu Dhabi Investment Office (ADIO) organized a field visit on 4 September, 2018 for a delegation from China Chamber of Commerce for Import & Export of Medicines & Health Products (CCCMHPIE) to the Industrial City of Abu Dhabi (ICAD).
The visit comes as part of ADIO’s efforts to enhance trade and investment cooperation between the UAE and China following a memorandum of understanding (MoU) signed with the Chinese Business Council in July 2018.
Headed by Shengcai Tan, Secretary General of CCCMHPIE, the delegation comprised XiongZhang and XiaodanGuo, Coordinators of CCCMHPIE and key officials from 15 leading Chinese pharmaceutical companies representing intermediate, Active Pharmaceutical Ingredient (API), and Finished Dosage Formulation (FDF) segments.
The Higher Corporation for Specialized Economic Zones (ZonesCorp) hosted the Chinese delegation at its headquarters in ICAD as part of its mandate to support and attract further investments into the UAE’s industrial and commercial sectors. Over years, ZonesCorp has developed several economic zones in Abu Dhabi and Al Ain where it hosts more than 600 international and local companies from various economic sectors, creating an integrated economic environment and ideal destination for investors from across the globe.
The delegation toured key industrial facilities in ICAD and was briefed on the local pharmaceutical industry as well as the advantages and services ICAD offers foreign investors, including its state-of-the-art infrastructure. They also visited major pharmaceutical factories in ICAD including Neopharma Pharmaceutical Plant and Adcan Pharma and learned about the advanced manufacturing capabilities and the facilities in the industrial hub.
The visitors expressed their admiration at the level of development witnessed by the UAE’s pharmaceutical industry over recent years. Furthermore, the two parties discussed potential collaboration between Chinese and UAE pharmaceutical companies in the development and distribution of drugs in the GCC region and the wider Middle Eastern markets.
His Excellency Ahmed bin Ghannam, CEO of ADIO, said: “ADIO has signed an MoU with the Chinese Business Council to promote trade relations between the UAE and China, and build synergies among businesses in our two countries. With its strategic geographical location, highly developed infrastructure, flexible business environment, and sound regulatory framework, Abu Dhabi is an attractive regional and global trade hub and investment destination. These are crucial factors in encouraging foreign investors to set up base in the emirate and pursue their expansion goals from here.”
He added: “This visit reiterates the importance of direct engagement with businesses from around the world in attracting further foreign direct investment to Abu Dhabi and in highlighting the opportunities available within vital economic sectors, such as the pharmaceutical industry. At ADIO, we are committed to providing comprehensive support to UAE-based businessmen seeking to network with their counterparts from other countries.”
His Excellency Saeed Eisa Mohammed Al Khyeli, Director General of ZonesCorp, said: “We are delighted to welcome the Chinese delegation to the economic zones of ZonesCorp, which provides an ideal destination for Chinese investors looking to enter the Middle East and North Africa markets. In addition to creating an excellent investment climate for investors, ZonesCorp offers best-in-class services and promising opportunities through developing projects that attract investment into strategically important pharmaceutical industry.”
Al Khyeli also commended ADIO’s efforts to boost the economic and investment relations and promote knowledge and technology exchange between the UAE and China adding that ZonesCorp is committed to supporting all initiatives that promote Abu Dhabi as an ideal investment destination globally. Towards this end, ZonesCorp collaborates with like-minded government entities to increase the flow of foreign investment into various economic sectors.
Shengcai Tan, Secretary General of CCCMHPIE, said: “The UAE and China enjoy close ties based on mutual interests. These relations received a boost following the historic visit of His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to China in 2015.
The visit of Chinese President Xi Jinping and the accompanying delegation to the UAE in July 2018 further enhanced bilateral relations, especially in the investment domain.”
He added: “The growing economic cooperation between the UAE and China is a boon for trade and investment between our two countries. The economic stimulus package announced by Abu Dhabi in June 2018 is encouraging more Chinese investors to establish joint ventures in Abu Dhabi.”
In recent years, China has strengthened cooperation with Middle East in the pharmaceutical sector, especially with the UAE that plays an important role in the China-Middle East pharmaceutical cooperation. The Chinese delegation is keen to leverage the visit to promote the bilateral trade and investment in pharmaceutical sector.
On the other hand, the Chinese pharmaceutical imports are poised to grow to over US$20 billion in 2018, according to the annual report of the International Federation of Pharmaceutical Manufacturers & Associations.
The visit of the Chinese delegation provided an opportunity for Abu Dhabi to introduce its logistical, commercial and investment capabilities, and share key data on the market size, local and regional demand, and prospects for Chinese investors. Furthermore, it helped enhance awareness about the Abu Dhabi Government’s measures to facilitate trade and investment in key sectors.
The Industrial City of Abu Dhabi boasts state-of-the-art infrastructure and outstanding facilities and services, supported by an efficient communication and advanced road network that ensures easy mobility. Designed to the highest standards, its warehouses and logistics hubs enable quick access to the country’s ports and airports. Since the beginning of 2018, ICAD has attracted several new factories with a total industrial output of AED520 million.
Founded in May 1989, CCCMHPIE is the leading and most influential national trade association in China with a mission to promote international trade and coordination in the healthcare sector. Affiliated to the Ministry of Commerce of China, CCCMHPIE has a diverse membership of more than 2,400 members including most of the major R&D facilities, manufactures and trading companies in China, ranging from pharmaceuticals, medical devices and equipment, biopharmaceuticals, nutraceuticals, functional cosmetics to traditional Chinese medicines.