The GCC’s healthcare market is forecast to reach $71.3 billion by 2020
Dubai state-owned industrial hub Jebel Ali Free Zone (Jafza), affiliated with DP World, announced that it plans to increase foreign direct investment (FDI) in the UAE’s healthcare sector.
The announcement came on the sidelines of the Arab Health Exhibition and Congress 2019, the largest gathering of healthcare and trade professionals in the Middle East and North Africa (MENA) region.
More than 4,100 companies are exhibiting their services during the event ending 31 January, and nearly 85,000 healthcare and trade professionals from almost 160 countries are attending.
“The healthcare and pharmaceutical sectors are key strategic targets for the UAE as outlined in the Government’s Dubai Industrial Strategy 2030,” Mohammed Al Muallem, CEO and managing director of DP World UAE Region, said.
The UAE’s healthcare sector is expected to achieve a compound annual growth rate (CAGR) of 8.5% between 2018 and 2023, state news agency WAM reported.
“Jafza will help the sector grow by offering world-class solutions and services as the premier destination for business in the Middle East and home to regional headquarters for many international healthcare companies,” Al Muallem added.
The GCC’s healthcare market is forecast to reach $71.3 billion by 2020 and Jafza is to help customers leverage the potential the region has to offer.
The free zone comprises more than 160 healthcare and pharmaceutical companies from over 38 countries.
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