Dubai Chamber of Commerce (DCC), one of the three chambers operating under Dubai Chambers, has announced the establishment of the Medical Labs & Diagnostic Centers Business Group.

Supporting the robust healthcare sector in Dubai and the wider UAE, the new business group seeks to foster collaborative relationships between its members and relevant stakeholders to cement importance of medical labs and diagnostic centers within the healthcare sector.

“The setting up of this business group comes at the right time as it brings together businesses within diagnostic labs sector and the further strengthens Dubai’s burgeoning healthcare industry.”

“The business group will play an instrumental role in supporting the sector, helping it thrive in the coming years,” said Maha AlGargawi, Executive Director of Business Advocacy at Dubai Chambers.

Dubai’s healthcare market is worth more than $4.63 billion annually. Dubai and the wider UAE is rapidly emerging as a healthcare hub with major opportunities. The UAE hosts the world’s largest medical free zone, Dubai Healthcare City which comprises 160 clinical partners across over 150 specialties and professionals from over 90 countries. Medical tourism sales are expected to record a CAGR of 17.1 per cent between 2021 and 2025, according to report by the Ministry of Economy and the UAE International Investors Council.

Founding member, Dr Ola Elgaddar, General Manager at Al Borg Diagnostics UAE, highlighted, “The healthcare industry in Dubai and the wider UAE is clearly flourishing. As a founding member of this business group, I am keen to start conversations with my fellow peers to see how we can further embed our sector and businesses in the healthcare industry. This business group will serve as an opportune platform to discuss topics that are critical to our sector and bounce off ideas and suggestions on ways to move forward.”

The establishment of the Medical Labs & Diagnostic Centers business group plays a crucial role in recommending policy changes to improve the sector’s competitiveness and attractiveness while promoting international best practices and supporting the emirate’s economic growth. It is part of the chamber’s plans to increase the number of business groups that represent economic sectors and activities in Dubai to 100 by March 2023. Established in 1965, Dubai Chamber of Commerce continues to represent, support and protect the interests of the business community in Dubai, create a stimulating business environment and promote the emirate as a global business hub. The Chamber is one of three chambers operating under the umbrella of Dubai Chambers, which was restructured under a decree issued by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.

Meanwhile Dubai Chamber of Commerce (DCC), one of the three chambers operating under Dubai Chambers, has launched the Solar & Renewable Energy Business Group, to drive the uptake of renewable energy amongst businesses and the private sector in Dubai.

“As the world shifts to renewable energy and a decarbonised economy, the establishment of the Solar & Renewable Energy Business Group is timely and relevant. It comes at the heels of UAE’s COP28 presidency, highlighting the importance of the country’s Energy Strategy 2050 and Dubai’s Clean Energy Strategy.

The business group will foster better understanding of these clean energy targets amongst local businesses while providing them insights to drive the shift to renewable energy. This will boost their efforts to support and accelerate Dubai’s energy transition and the ambition of making the emirate a hub for the green economy,” said Maha AlGargawi, Executive Director of Business Advocacy at Dubai Chambers.

Over the last couple of decades, the share of oil in the UAE’s gross domestic product (GDP) has considerably decreased.

From approximately 43 per cent in 2001, this share dropped a third of GDP to 33 per cent in 2011 and much lower to 27 per cent in 2021.

The UAE is well on its way to achieve its clean energy targets as outlined in the UAE Energy Strategy 2050.

Announced in 2017, the UAE Energy Strategy 2050 aims to reduce the carbon footprint on power generation by 70 per cent, improve energy efficiency by 40 per cent, increase the contribution of clean energy from 25 per cent to 50 per cent and save a total of Dhs700 billion.

The UAE has since launched notable initiatives and taken significant steps towards realising these goals by 2050.

The UAE Government will invest Dhs600 billion in renewable energy by 2050 to meet the country’s growing energy demand from clean and sustainable resources.