Country Report: UAE - Pharmaceutical Executive

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Country Report: UAE

Pharmaceutical Executive


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Rumor has it the BRIC palace is crumbling. Perhaps that's overdramatic, but at the very least the BRIC oven is cooling off. Where to now? The US and Europe remain in a state of languid stagnation, while Asia and Africa are largely addressing basic healthcare needs with low-cost generic medicine.


Vibrant Future by Khalid Mezaina www.khalidmezaina.blogspot.com
As the world reveled in the glory of the BRICs and the MISTs (Mexico, Indonesia, South Korea and Turkey) for the past decade, the Middle East and North Africa (MENA) region was generally disregarded as a blind spot for the pharmaceutical industry. Decades of conflict and strife in the region have done a great disservice to attract business, but recent events like the Arab Spring have unveiled a vibrant MENA, eager to shed its inadequate reputation.

Leading this move for international recognition is the United Arab Emirates (UAE), who for more than a decade has dazzled the world with its economic growth and opulent lifestyle. Holding the seventh largest crude oil reserves in the world, the UAE experienced one of the most unprecedented transformations from a land of desert dwellers and seafaring trade-posts 40 years ago, to becoming a global business foci and tourist destination. As we speak, this tiny nation of 4.8 million is bidding to host the 2020 World Expo and has made it a sport to break world records.

Striving to diversify their economy away from oil revenues, the visionary royal leaders have most recently endeavored to transform the nation into a model of healthcare development, successfully attracting pharmaceutical companies of every nationality and erecting dozens of world-class hospitals. In many ways, the UAE is leading the Middle East region as the new source of satiety for pharmaceutical companies. At last, an oasis for the industry surfaces; and no, it is not a mirage.


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