Jafza witnesses 7% growth in pharmaceutical and healthcare sector

DUBAI, 21st January, 2016 (WAM) -- The pharmaceutical and healthcare sector in Jebel Ali Free Zone, Jafza, the flagship free zone of Dubai and the UAE, has witnessed healthy growth over the past years, with 7 percent growth in the number of companies over the past year from 238 in 2014 to 255 in 2015. According to Sultan Ahmed bin Sulayem, Chairman of DP World and Chairman of Ports, Customs and Free Zone, some of the world’s best companies have set up their regional base in Jafza and this speaks volumes of their trust in the zone's ability to provide customers with the most convenient and vital connectivity to the world. "Access to the emerging economies of the world such as Africa, South and West Asia, Africa, Russia and the CIS along with our infrastructure and trade benefits has attracted the pharmaceutical and healthcare industry to Jafza," he said. "Medical tourism enjoys a strong growth prospect in Dubai with a main focus on Russia, Pakistan, India and countries in CIS, South Asia and Africa. People in these regions need access to high-quality medical technology that may be lacking there. Dubai is located close to these nations and hence an ideal destination to avail integrated medical care," bin Sulayem added. "The government is also supporting the growth of medical tourism in the country and this is leveraging the health industry here with more international companies setting up base here. I’m sure in the years to come, Dubai will emerge as the leader in the medical tourism industry as well as attract the best of the world’s pharma companies here." Regional governments are increasing their investment in the healthcare sector to support rising demand. Specialist research company, Frost and Sullivan, predicts that the healthcare market in the GCC will grow to US$133 billion by 2018. The region is still largely dependent on imports necessitating a centralised place for processing and distribution, and Jafza is the ideal hub to meet regional healthcare demands, while also serving as a base for global trade. Jafza will be participating in Arab Health 2016, scheduled to be held from January 25th-28th in Dubai. The conference, the largest in the Middle East, offers important opportunities to build relationships within the healthcare industry, to showcase progress and achievement in the sector. Ibrahim Mohamed Aljanahi, Deputy CEO and Chief Commercial Officer, said, "Jafza has been participating in Arab Health over the years and I have seen a steady rise in the number of visiting companies. This shows that the region, especially UAE, has gained a high reputation among the healthcare and pharmaceutical companies. According to Business Monitor International’s report, in 2014 the UAE pharmaceutical market reached a value of US$2.58 billion with a growth of 9.1 percent in 2015 where the market reached a value of US$2.81 billion." Aljanahi added, "Jafza’s support for the healthcare industry goes beyond just transport however, and it offers a host of services and benefits specifically designed to meet the needs of global companies operating the healthcare space." – Emirates News Agency, WAM -http://www.wam.ae/en/news/economics/1395290545334.html