The National ICV Program supports the growth and development of the UAE’s national industrial sector and boosting its competitiveness…reports Asian Lite News
PureHealth, the largest integrated healthcare platform in the Middle East, today reinforced its commitment to the National In-Country Value (ICV) Program – one of the key pillars of the national industrial strategy – by announcing a 30% increase in its 10-year commitment to local procurement, taking its total commitment to AED 13 billion by 2032. The announcement took place on the sidelines of the Make it in the Emirates Forum, which was held from 31 May to 1 June at the Abu Dhabi Energy Center.
Last year, PureHealth joined the National ICV Program following a memorandum of understanding (MoU) with the Ministry of Industry and Advanced Technology (MoIAT). During the inaugural Make it in the Emirates Forum in 2022, PureHealth announced it would procure AED 10 billion worth of products from local suppliers, including medicines and medical products. At the second edition of the forum, PureHealth announced a further AED 3 billion for local purchases, bringing the total value of its local procurement commitments to AED 13 billion. The National ICV Program supports the growth and development of the UAE’s national industrial sector and boosting its competitiveness.
His Excellency Omar Al Suwaidi, Undersecretary of the Ministry of Industry and Advanced Technology said: “The National ICV Program, which is among the UAE’s Projects of the 50 and falls under the national industrial strategy, has succeeded in synergizing the ministry and its government and private sector partners in supporting entrepreneurship and innovation across the industrial sector, especially among small and medium-sized enterprises.”
HE Al Suwaidi added: “ICV-certified companies contributed an estimated AED 53 billion to the national economy in 2022. As the initiative continues to empower the industrial sector and boost its performance and sustainability, it redirects higher portions of public and private sector spending into the national economy.”
PureHealth’s announcement contributes to the AED 10 billion of procurement opportunities announced at the second Make it in the Emirates Forum. The additional opportunities build on last year’s AED 110 billion of offtake agreements.
PureHealth will allocate the opportunities across all buckets of its local procurement in Technology and General Services, Medical Consumables and Supplies including diagnostic consumables, gastro and hepatobiliary systems, laboratory storage and packaging, and patient care, and pharmaceuticals.
Farhan Malik, Managing Director and CEO of PureHealth said: “Last year, PureHealth made a commitment to boost its contribution to the In-Country Value Program, which is an important long-term program aimed at building a sustainable and more prosperous future for the UAE. As part of this commitment, we are pleased to announce a 30% increase in our 10-year commitment to procure from local suppliers, raising the total value to AED 13 billion by 2032. ICV is not just a nice-to-have program but a must-have program that brings long-term benefits to participating entities and the government. If you wish to create long-term gains, you need to make long-term commitments.”
Farhan continued: “ICV is critical in healthcare because the sector needs to be resilient and less dependent on external factors. As a national company, PureHealth is committed to playing its part in elevating the healthcare landscape in the UAE whilst actively supporting local healthcare manufacturing capabilities. In line with the vision of our country’s leadership, we aim to make the UAE the healthcare capital of the world by supporting local industries and futureproofing our healthcare systems.”
Farhan added: “We are thankful to MoIAT for creating an ecosystem that facilitates collaboration to build a better economy and sustainable future for all of us. The Make it in the Emirates Forum has once again been an effective initiative that has brought together different sectors, including healthcare, on a common platform to build a sustainable and strong industrial ecosystem. Supporting the local biotech and medtech sectors are key to unlocking the benefits of the Fourth Industrial Revolution.”
Organized by MoIAT, in partnership with the Abu Dhabi Department of Economic Development and ADNOC under the National Strategy for Industry and Advanced Technology, the Make it in the Emirates Forum aims to attract investors to UAE industries and draw manufacturers to set up in the country.
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