PC: Zawya
Dubai Investments, a leading diversified investment company listed on the Dubai Financial Market (DFM), announced that its subsidiaries, GlobalPharma and Emirates Float Glass (EFG), signed important Memorandums of Understanding during the fifth Higher Committee Meeting of the Integrated Industrial Partnership for Sustainable Economic Development in Doha, Qatar. The MOUs, which received support from the Ministry of Industry and Advanced Technology (MoIAT), are intended to align with regional efforts to boost industrial growth, economic collaboration, and sustainable development across key sectors.
The attending ministers were joined by their respective industry ministers from the UAE, Egypt, Jordan, Bahrain, Morocco, Qatar, and Turkey, representing an important step toward strengthening cross-border cooperation and investment. The company’s participation was a clear demonstration of the commitment of Dubai Investments toward further regional collaboration in industrial integration and economic growth.
The MOUs were signed on behalf of the company by Mohammed Saeed Al Raqbani, General Manager of Dubai Investments Industries and Masharie. On the MOUs, he said, “Their signing represents Dubai Investments’ commitment to driving forward Industrial Integration and augmenting regional supply chains towards Sustainable Economic Development. Leveraging on the capability and expertise of the Group’s subsidiaries not only adds to the regions’ industrial advancement but also enhances the competitive edge of its partners across key sectors.”
GlobalPharma, which has established itself as the leading generics partners of Dubai Investments, signed an MOU with Morocco’s Zenith Pharma, which aims to develop pharmaceutical collaboration in the region. Under the MOU, there will be technology transfers, licensing, and local manufacture of critical medicines, including injectable biologics, cholesterol interventions, and diabetes therapies. With more than $50 million of investment, the two companies join forces to increase medicines security and manufacturing capacity in member countries. GlobalPharma was congratulated by the attending ministers for its contributions to pharmaceutical R&D in the partnership.
Emirates Float Glass is a renowned global leader in the float glass sector and a completely owned subsidiary of Dubai Investments. It signed an MOU for the supply of quality float glass to a local manufacturer specializing in glass and mirror silvering. This formal contract further consolidates the industrial cooperation between the UAE and Bahrain, keeping in view manufacturing efficiency and raw material supply. Under the MOU, EFG has a guarantee from its very sophisticated line to obtain the best quality and reliable supply of glass, coinciding with the regional initiatives aimed at bolstering supply chain resilience and industrial self-sufficiency.
These MOUs, once secured, further enhance the reputation and worth of Dubai Investments in ushering regional industrial collaboration and economic development for sustainable growth in key sectors.
