India has achieved an eminent global position in the pharma sector. The country also has a huge pool of scientists and engineers who have the potential to take the industry to a very high level. Some of the important factors contributing to further growth of the sector include the government policies placing a thrust on rural health programmes, life saving drugs and vaccines, as well as other cost effective measures introduced to make healthcare in the country more affordable.
These were the thoughts shared on the occasion of the Dubai Biotechnology and Research Park (DuBiotech) and Energy and Environment Park (EnPark) – Dubai’s free zone business communities dedicated to the life sciences and alternative energy industries, representation at the Confederation of Indian Industries (CII) platform by Marwan Abdulaziz, executive director, DuBiotech.
India is among the top 12 biotech destinations in the world and the largest producer of recombinant Hepatitis B vaccine. Out of the top 10 biotech companies in India (by revenue), six focus their expertise in bio-pharmaceuticals and four specialise in agri-biotech. India's biotech industry mainly comprises of bio-pharmaceuticals, bio-services, bio-agriculture, bio-industry and bio-informatics which could reach the US$ 7 billion mark by end of FY 15-16. (ibef.org)
Speaking on the occasion, Abdulaziz, said, "The UAE and India have shared a longstanding relationship, and are both growing at exponential rates. GCC countries are expected to see an average economic growth of 4.1 per cent in 2015 on the back of robust non-hydrocarbon activities and large budget surpluses, according to a report by The Coface Group. This shows great promise in a largely untapped market for Indian companies, and we are excited to offer world class facilities for the Indian companies looking to setup a Middle East hub, in the UAE.
Abdulaziz shared expert insight into the offerings of the UAE’s free zone module, which includes 100 per cent foreign ownership, 100 per cent tax exemption and tax free salaries for all employees. He also communicated how the growing Indian pharmaceutical, energy and biotechnology sectors can hugely benefit from these advantages, and tap into the flourishing GCC market through being a part of one of the UAEs free zone hubs.
The Indian biotechnology sector is further expected to grow from the current US$ 5-7 billion to US$ 100 billion by 2025 by doubling the growth rate of this sector from 15 per cent to 30 per cent, according to the Association of Biotechnology Led Enterprises (ABLE).
“We already host over 10 Indian firms within our free zone. In the future we look forward to building great business partnerships and being a part of the Indian growth story,” he added.
Dubai Biotechnology and Research Park, a member of TECOM Investments, is a free zone business park dedicated to fostering the growth of the life sciences industry in the region. DuBiotech offers world-class infrastructure and cutting edge research and development facilities, specifically designed and built for the field of biotechnology, pharmaceutical, medical and scientific device, food and agricultural industries. The free zone can support both start-ups and international firms looking for a regional base for their Middle East or global operations. The park is central to a community that is committed to the industry’s success by bringing together business, regulators and Government in partnership.
Since its launch in 2005, DuBiotech has rapidly grown into a community of more than 200 life sciences companies such as Pfizer, Genzyme, Merck-Serono, Amgen, Bristol-Myers Squibb, Maquet, National Reference Lab, Firmenich and IFF.
EnPark, a member of TECOM Investments, is a free zone dedicated to fostering the growth of the alternative energy and environmental industries in the Middle East. The business park offers bespoke real estate facilities and its central location provides access to the MENA region. Today, more than 50 companies, from cleantech startups to large energy multinationals, operate under EnPark’s licenses.