Dubai-based conglomerate, Globalpharma, inks agreement with Angola's Health Ministry

In a significant move towards local production of medicines and economic diversification, Globalpharma, a subsidiary of Dubai Investments, and Angola's Ministry of Health have signed a Memorandum of Understanding (MoU) to establish a pharmaceutical manufacturing facility in DIP Angola.

The MoU aims to drive local production of medicines, reducing Angola's reliance on imported medical products. This initiative is expected to create hundreds of jobs in Angola, contributing to job creation and economic growth.

DIP Angola, modeled on the success of Dubai Investments Park in the UAE, is an integrated mixed-use development that combines residential, commercial, and industrial components. It is envisioned as a catalyst for Angola's economic diversification, industrialization, and job creation.

The partnership between Globalpharma and Angola's Ministry of Health reflects Dubai Investments' commitment to building bridges between markets, accelerating Africa's industrialization, and contributing to a more diversified and resilient global economy.

Globalpharma's state-of-the-art manufacturing facilities are cGMP-certified and approved by health authorities across the GCC, Levant, Africa, and CIS regions. The company is UAE's leading pharmaceutical manufacturer, with a strong focus on producing high-quality generic and branded medicines across key therapeutic areas.

The MoU was signed during a UAE delegation visit to Angola, led by His Highness Sheikh Mohamed bin Zayed Al Nahyan. Dubai Investments has been expanding its footprint in Angola over the last two years through the development of DIP Angola, Angola's first integrated economic zone.

Angolan government officials who signed the agreement for the establishment of a pharmaceutical factory in Angola with Dubai Investments and Globalpharma include the Minister of Health and the Minister of Industry and Commerce. The MoU reinforces a shared commitment to sustainable healthcare development in Angola.

The Ministry of Health will coordinate with relevant government bodies to expedite the issuance of licenses, permits, and regulatory approvals for DIP Angola. They will also facilitate access to available tax incentives, exemptions, and investment benefits for DIP Angola, in accordance with national laws and investment promotion regulations.

Khalid Bin Kalban, Vice Chairman and CEO of Dubai Investments, expressed his enthusiasm for the partnership, stating that it reflects Dubai Investments' long-term commitment to supporting Angola's economic development. He emphasized that the MoU is a key milestone in enhancing healthcare self-sufficiency in Angola.

This development marks a significant step forward in Angola's journey towards economic diversification and self-sufficiency in healthcare, backed by the expertise and resources of Globalpharma and the support of Dubai Investments.

Dubai-based conglomerate, Globalpharma, inks agreement with Angola's Health Ministry