Dubai Science Park Hosts Experts to Enable Growth in the Region

Dubai - UAE: 2 February, 2019 – Dubai Science Park (DSP) hosted a networking event where business partners and stakeholders were given the unique opportunity to meet with experts and analysts from across the science sectors. The gathering, which took place during Arab Health 2019, the largest medical exhibition and conference in the Middle East, aimed to spark business growth through the sharing of industry insights and best practice.

In line with Dubai Industrial Strategy 2030, the event marks the start of a new year that is set to be filled with robust programmes and campaigns developed by Dubai Science Park. In 2018, DSP made significant progress towards delivering its mission, which seeks to grow the local science sector by enhancing the ease of doing business within its community. DSP welcomed new business partners, with key inaugurations including BASF, a German construction chemicals firm and the largest chemical producer in the world; Biocad, a leading Russian biotechnology company; and inui Health, an American digital tech company based in Silicon Valley. Most recently, Pharmax Pharmaceuticals, a GMP-licensed international manufacturer and distributor of medications, became the first pharmaceutical manufacturing company to join DSP’s growing community.

DSP’s business-friendly ecosystem, centered on fostering innovation and improving market efficiency, supports the UAE’s goal of improving its rank in the World Bank’s Doing Business report- in which it is currently positioned 11th out of 190 countries. The report rates countries based on how conducive the regulatory environment is to business growth.

Commenting on the importance of the event and DSP’s continued effort to enable business growth, Marwan Abdulaziz Janahi, Managing Director of Dubai Science Park and Chairing Member of the Pharmaceuticals and Medical Equipment Taskforce of the Dubai Industrial Strategy 2030, said: "We are proud to play our part in helping the emirate be a global example of economic diversification, with the science and healthcare sectors remaining one of the most strategic industries for Dubai’s future growth. Ease of doing business is one of our guiding principles, and so we strive to continuously offer a seamless setup model and smart infrastructure to the businesses within our innovation-friendly community. Today, DSP is constantly exploring new opportunities to ensure the development of the regional science landscape.”

With nearly 90 per cent of pharmaceuticals in the UAE being imported, Dubai Science Park’s 360-degree approach to enhancing the ease of doing business aims to both attract key organisations from abroad looking to access business opportunities across the region as well as foster local enterprise growth. Ultimately, by developing the local market, DSP looks to create an environment that enables the emirate to reduce its dependency on imports.

He added, “We are seeing Dubai lead by example within the healthcare and science industries by promoting local production, manufacturing and talent development. In line with Dubai Industrial Strategy 2030, we will continue to support local business growth by educating pharmaceutical and healthcare companies through the sharing of best practice and industry insights across the various science sectors. To this end, industry gatherings such as these represent an important platform for us to meet and interact with the community.”

The science park’s success is linked to the growth of the healthcare and science industries in the emirate. Backed by robust government strategies such as Vision 2021 and Dubai Plan 2021, the local healthcare sector has become one the most dynamic areas of the economy, with investments of up to US$ 2.5 billion expected to be injected into the pharmaceutical sector over the same timeframe.

Building on DSP’s commitment to cementing the emirate as a science hub, the event drew the presence of market leaders and SMEs from the science and healthcare industries. Attendees networked with leading industry experts and accessed invaluable mentorship and market research findings related to business development, as well as public relations and social media support.