Dubai – Mubasher: Dubai Investments recently announced that its subsidiaries GlobalPharma and Emirates Float Glass (EFG) have signed strategic memoranda of understanding (MOUs) during the fifth Higher Committee Meeting of the Integrated Industrial Partnership for Sustainable Economic Development, according to an official statement.
The meeting was held in Qatar’s Doha and was attended by industry ministers from the UAE, Egypt, Jordan, Bahrain, Morocco, Qatar, and Turkey. It marked a significant milestone that further expands cross-border cooperation and investment.
These agreements, supported by the UAE Ministry of Industry and Advanced Technology (MoIAT), align with regional efforts to accelerate industrial growth, enhance economic collaboration, and drive sustainable development across key sectors.
General Manager at Dubai Investments Industries and Masharie, Mohammed Saeed Al Raqbani, said: “The signing of these MoUs reflects Dubai Investments' commitment to fostering industrial integration, strengthening regional supply chains, and driving sustainable economic development.”
Al Raqbani noted: “By leveraging the expertise and capabilities of the Group’s subsidiaries, we are not only contributing to the region’s industrial growth but also enhancing the competitive edge of the Group’s partners across key sectors.”
As part of the expanding pharmaceutical collaboration within the region, GlobalPharma signed MoU with Morocco’s Zenith Pharma to focus on technology transfer, licensing, and local manufacturing of critical medications, including injectable biologics, cholesterol treatments, and diabetes solutions. This partnership has an investment exceeding $50 million that aims to bolster pharmaceutical security and enhance local production capabilities across member countries.
In addition, EFG signed MoU to supply high-quality float glass to a regional manufacturing company specialising in glass and silver mirror production. This agreement strengthens the industrial integration partnership between the UAE and Bahrain, supporting manufacturing efficiency and raw material supply within the sector. EFG will leverage its advanced production capabilities to ensure a steady and high-quality supply of glass, aligning with broader efforts to enhance regional supply chains and industrial self-sufficiency.
It is worth noting that Dubai Investments’ net profits after tax hit AED 1.20 billion in 2024 according to the preliminary financial results.
