Latest news with #nationalstrategy
Al Bawaba
2 days ago
- Business
- Al Bawaba
Abu Dhabi University Signs MoU with Ministry of Industry and Advanced Technology to Advance Innovation and Talent Development growth through scientific research
Reinforcing its commitment to advancing the UAE's national industrial strategy, Abu Dhabi University (ADU) has signed a Memorandum of Understanding (MoU) with the Ministry of Industry and Advanced Technology (MoIAT), marking a significant step toward deepening cooperation in the fields of industrial innovation, academic engagement, and national capacity building. The agreement outlines a framework for joint initiatives that foster industrial innovation, connect academia with industry, and empower national talent by aligning scientific research with market needs. It also includes the development of specialized training programs for students and startups in support of the National Strategy for Industry and Advanced Technology and the 'Make it in the Emirates' MoU was signed recently by His Excellency Osama Amir Fadhel, Assistant Undersecretary for the Industrial Accelerators Sector at MoIAT and Dr. Hamad Odhabi, Vice Chancellor of AI and Operational Excellence at Abu Dhabi University, on the sidelines of the fourth edition of the 'Make it in the Emirates' forum. The signing followed ADU's active participation in the event, where the university showcased a range of student-led innovations aligned with the UAE's strategic industrial priorities.H.E. Osama Amir Fadhel, Assistant Undersecretary for the Industrial Accelerators Sector at MoIAT, said: 'The Ministry, in collaboration with strategic partners, continues to boost the industrial sector's growth, competitiveness, and investment appeal. Academic institutions play a key role in building capacity and empowering national talent for sustainable industrial growth. Our partnership with ADU is a practical step to align research with industry needs, empower students, and deliver innovative solutions, strengthening the business environment and supporting a resilient, competitive, knowledge-based economy.'Commenting on the occasion, Professor Ghassan Aouad, Chancellor of Abu Dhabi University, said: 'This MoU reflects our shared commitment with MoIAT to empower today's students - who are the architects of tomorrow's robust economy - and to position academic institutions as key drivers of sustainable economic growth and global competitiveness. By aligning academia with national priorities, we are nurturing a new generation equipped with the skills, knowledge, and innovative mindset needed to lead sustainable growth on a global scale.'The partnership will drive various collaborative initiatives and projects to advance the UAE's industrial transformation. These efforts will promote innovation across priority sectors, facilitate knowledge exchange in advanced technologies, and develop professional training programs for students, specialists, and startups. It also aims to strengthen the impact of local initiatives such as Make it in the Emirates by highlighting the critical role of universities in shaping the industrial ADU's participation at Make it in the Emirates, students presented diverse, innovative projects that reflected the university's commitment to applied research, entrepreneurship, and interdisciplinary learning. Highlights included PipeGuard Falcon, an AI-powered robotic system for pipeline inspection and predictive maintenance; 3D-printed concrete solutions using locally sourced materials to support sustainable infrastructure; and AiMM, a smart medication management system designed to enhance patient safety and healthcare efficiency. Other highlights included a drone detection and tracking system, an autonomous marine vessel for debris collection, an AgriTech dispersion device for precision farming, and custom circuit boards advancing automation and Dhabi University reaffirms its role as a key contributor to the UAE's industrial transformation and its continued participation in ambitious national initiatives such as Make it in the Emirates. By cultivating innovation and talent, ADU is preparing the next generation of engineers, researchers, and entrepreneurs to lead in a future shaped by advanced technology, sustainability, and knowledge-based growth. For more information about Abu Dhabi University, please visit:
Arab News
22-05-2025
- Business
- Arab News
Cairo plans economic independence as IMF program nears end
RIYADH: Egypt is preparing to transition away from its current economic reform program with the International Monetary Fund, which is scheduled to conclude by late 2026 or early 2027, according to the country's prime minister. Speaking during his weekly press conference, Mostafa Madbouly stated that the government is developing a long-term national economic strategy that will extend to 2030 and focus on sustaining growth without relying on international institutions, according to an official release. The comments come as Egypt attempts to stabilize an economy that has struggled with record inflation, a depreciating currency, and mounting debt. Over the past few years, authorities have pushed through reforms to unlock external funding, including a major IMF deal, Gulf-backed investments, and a record sale of state assets. In a release on its official social media handle, the Egyptian Cabinet quoted the prime minister as saying: 'We are aiming to develop a national program for the Egyptian state without relying on other international institutions. This will be linked to submitting, for the first time next year, a three-year budget.' In response to a question about the government's vision beyond the current IMF program and its efforts to preserve the gains reflected in recent positive economic indicators, the release added: 'Madbouly confirmed that the government is drafting a detailed plan extending to 2030. This reflects a broader outlook beyond the IMF program, which ends by late 2026 or early 2027.' Egypt's current $8 billion program with the IMF began as a $3 billion agreement in late 2022 and was expanded by $5 billion in March 2024. The deal includes major reforms such as currency devaluation, sharp interest rate hikes, tighter fiscal policy, and privatization of state-owned assets. So far, Egypt has received about $3.3 billion, with a fifth program review conducted in early May 2025. The IMF continues to stress the importance of accelerating structural reforms and managing debt levels. In the release, Madbouly emphasized that the government is prioritizing macroeconomic stability and social development. He pointed to the growing importance of social support programs, saying they would continue to expand annually. He also underlined the importance of technological advancement, industrial development, and greater reliance on digital transformation and artificial intelligence in the country's future economic model. Regarding Egypt's ongoing IMF program, Madbouly clarified that the reform agenda was created and implemented by the Egyptian government itself, with the IMF acting in a supportive role. He said the presence of the IMF and similar institutions in Egypt serves as a confidence signal to foreign investors and the global financial community, and that the IMF's involvement does not entail new conditions or burdens on citizens. Madbouly also addressed developments in the Future of Egypt agricultural project, which he said is designed to rely on modern, mechanized farming and industrial methods. Unlike traditional high-density agricultural zones in the Nile Delta, the new areas will be less labor-intensive and structured to attract large-scale private sector participation. He said the aim is to preserve agricultural productivity by avoiding the fragmentation of land that has affected other regions. On technical education reform, Madbouly announced that the government is reviewing plans to convert outdated commercial diploma schools into modern technological schools that align with labor market needs. This reform will also involve private sector partnerships and follow successful models such as the WE School for ICT Education. He noted that graduates from current vocational tracks will be eligible to join digital transformation initiatives like the state-supported Digital Pioneers Program. In the health sector, the prime minister confirmed that the second phase of Egypt's universal health insurance scheme will expand to five additional governorates. He added that one densely populated governorate might also be included in this phase, bringing the total number of covered regions to 12. Madbouly said the system's financial viability has been reassessed and extended to ensure it can remain sustainable for up to 50 years. He also spoke about the government's plan to support the local production of infant formula, describing it as a capital-intensive industry that requires significant investment. The state is encouraging private sector participation in this strategic initiative and is ready to act as a partner to ensure long-term success and stability in production.
Arabian Business
19-05-2025
- Business
- Arabian Business
PureHealth invests $613m in local goods and services, eyes $3.5bn UAE spend
PureHealth has invested AED2.25bn ($613m) in locally sourced goods and services. In 2024 alone, the group directed AED1bn ($272m) into the national economy, a 38 per cent increase compared to 2023, directly supporting the UAE's goals to localise supply chains, promote national businesses and accelerate economic diversification. A committed member of the Ministry of Industry and Advanced Technology (MoIAT) led National In-Country Value (ICV) Program since 2022, PureHealth is on track to meet its target of AED13bn ($3.5bn) in ICV-qualified spend by 2032. PureHealth invests in UAE businesses Through expanded local sourcing, investment in advanced manufacturing and strategic partnerships with Emirati enterprises, the group is actively contributing to the Make it in the Emirates initiative – a key pillar of the UAE's national industrial strategy, which aims to increase the sector's gross domestic product (GDP) contribution to AED300bn ($81.7bn) by 2031. Shaista Asif, Group Chief Executive Officer of PureHealth, said: 'Our investment in the UAE's industrial ecosystem is rooted in a long-term vision for healthcare resilience. By advancing our In-Country Value goals, we are localising critical supply chains, supporting homegrown innovation and enabling the development of advanced healthcare manufacturing capabilities. 'This is not just about meeting today's needs, but building a sustainable, self-sufficient healthcare system that serves UAE communities for generations to come while supporting the nation's economic and industrial ambitions.' PureHealth's commitment to local industrial growth and innovation is reflected in strong ICV performance across its brands: SEHA, holds the highest ICV score in the UAE healthcare sector, at 81.13 per cent Daman, the UAE's leading health insurer, ranks second in the UAE insurance sector, at 71.86 per cent PureLab and The Medical Office (TMO) have already secured their ICV certification, while Sheikh Shakhbout Medical City (SSMC) is on track to receive its certification later this year, marking a significant step toward full group-wide compliance across PureHealth These achievements reflect robust performance across procurement, Emiratisation, investment and sustainability, with all activities reported to MoIAT to ensure transparency and alignment with national priorities. Leya Al Damani, Chief Sustainability Officer at PureHealth, added: 'Sustainability and localisation go hand-in-hand. Through partnerships with UAE-based suppliers that share our environmental and quality standards, we are creating long-term value that benefits both our healthcare system and the national economy. 'The National In-Country Value Program gives us a powerful framework to scale this impact measurably and responsibly, while also fostering a supportive environment for the growth of small and medium-sized enterprises across the country.' PureHealth's procurement strategy spans medical supplies, pharmaceuticals, technology and infrastructure services, with a strong focus on UAE-based suppliers that meet international standards and foster homegrown innovation. Through strategic offtake agreements and ongoing supplier development, the group is continuing to identify new opportunities to partner with more local manufacturers – driving industrial capacity, enhancing supply chain resilience and advancing the UAE's vision for a future-ready healthcare sector.
