The availability of pharmaceutical and agricultural food supply chains is a more urgent priority than ever before.
Business Bureau, Gulf Today
Bahrain’s MVC Global - providers of one of the leading supply chain track-and-trace platforms for pharmaceuticals and medical devices - announced a strategic partnership with Cox Logistics Group - a Bahrain-based Logistics provider - to launch a first-of-its-kind “SmartHub” logistics warehouse for pharmaceuticals and food to be headquartered in Bahrain and serve the GCC market.
At a time when global supply chains are decimated by the ongoing COVID-19 pandemic, this next generation logistics warehouse will utilise emerging technologies to ensure the speedy and efficient distribution of much-needed foods and medicines across the entire GCC, drastically reducing the time required for paperwork, administration and bureaucracy. It will be the first ‘smart hub’ in the middle east to integrate a track and trace system on a blockchain platform with smart contracts for customs clearances and fee payments.
The MVC ‘SmartHub’ platform integrates blockchain with serialised Track & Trace, IoT sensors, and ‘SmartPass’ with smart contracts for compliance and government clearances, as well as Fintech for supply chain finance and cross border payments. The ‘SmartHub’ will combine MVC’s platform with advanced AI technologies and will facilitate both Cold and Non-cold storage distribution for food, pharmaceuticals and medical supplies in Bahrain and across the GCC. The configuration and deployment of the system are currently underway.
Cox Logistics Group joins MVC’s existing strategic partners - value chain platform provider AVC Global and leading track and trace solutions provider rfxcel Corporation. Additional strategic partnerships are being announced soon. The partners are all working together with a view to deploy a network of Smart Hubs and Node Operations with ‘SmartPass’ across the entire GCC.
Commenting on the new partnership, Shaikha Dheya Bint Ebrahim Al Khalifa’s, MVC Global Chairwoman, said: “Due to the ongoing pandemic, the availability, authenticity and safety of pharmaceutical and agricultural food supply chains is a more urgent priority than ever before. We have been building a world-class team in Bahrain with a vision of positioning the Kingdom as a world leader in supply chain strengthening, sustainability and development. I am delighted we have now been joined by the Cox Group.”
Radford Cox, President, Cox Logistics, said: “Global Trade Routes and Supply Chain Financing are being rapidly reconfigured to meet today’s new challenges. We see this technology and this project as our chance to touch and change the lives of not just the citizens of the Kingdom of Bahrain, but people across the entire GCC and beyond. When completed this will be something the Bahrain People will be able to say with pride, this is what Bahrain gave to the World.”
Husain Rajab, Chief Investment Officer at the Bahrain Economic Development Board, said, “We are very pleased to see this strategic international partnership in Bahrain to establish a safe and secure supply chain network for pharmaceuticals and food supplies. The project aims to build on Bahrain’s world-class digital infrastructure, which would enable the Kingdom to become a major regional logistics hub. Furthermore, our geo-centric location at the heart of the Middle East, advanced customs policies and regulations, and competitive cost of doing business are integral components of our logistics value proposition that keeps attracting many international companies to setup regional operations in Bahrain.” Glenn Abood, co-founder & CEO of rfxcel added, “The ‘Smart Hub’ is transformational and will protect both the pharmaceutical and food supply chain. rfxcel is honoured and excited to integrate our serialised Track & Trace solution with the ‘Smart Hub.’ Given the global concerns with COVID-19, ‘Smart Hub’ takes on new importance and has redoubled rfxcel’s commitment to enabling a safe and efficient supply chain.”
The Bahrain Economic Development Board (EDB) is an investment promotion agency with overall responsibility for attracting investment into the Kingdom and supporting initiatives that enhance the investment climate.
The EDB works with the government and both current and prospective investors, in order to ensure that Bahrain’s investment climate is attractive, to communicate the key strengths, and to identify where opportunities exist for further economic growth through investment.
The EDB focuses on several economic sectors that capitalise on Bahrain’s competitive advantages and provide significant investment opportunities. These sectors include financial services, manufacturing, ICT, tourism, logistics and transport.