DuBiotech’s headquarters in Dubai

A DELEGATION from DuBiotech, a free zone dedicated to facilitating and fostering the growth of the life sciences industry in the UAE, took part in the BIO International Convention in Chicago, Illinois, to educate and inform American investors about Dubai’s thriving biotech sector.

Marwan Abdulaziz, executive director of DuBiotech, attended the convention, the world’s largest biotechnology event, with the aim of drawing American attention to the vast potential of the emerging pharmaceutical, biotech and healthcare sectors in Dubai and the wider Gulf region.

At the convention, DuBiotech’s team met with fast-growing US firms to showcase opportunities for investment. Abdulaziz shared first-hand information on the practicalities and ease of establishing a business or regional office within the Emirate.

According to the GCC Pharmaceutical Industry Report 2013 issued by Alpen Capital, a leading investment bank in the region, the pharmaceutical market in the GCC was estimated to be worth $8.5 billion in 2012. Additionally, healthcare expenditure among GCC countries is expected to swell to $79 billion by 2015, with public health expenditure amounting to 64 per cent of the total.

Abdulaziz said: “Many US life sciences companies are already contributing to the development of the industry in the UAE, and they are well-placed to unlock the growth potential in the region. My aim on this visit is to try and develop even closer ties with US firms and attract more of them to establish a presence within the Emirate of Dubai.”

“With world-class, industry-specific infrastructure and cutting-edge R&D facilities, DuBiotech is the one stop shop for investors looking to tap into the emerging market economies of the Gulf.”