Businesses across the Middle East and North Africa (MENA) region have signed agreements exceeding $2 billion to advance industrial projects, stimulate economic growth, and create job opportunities.
The deals, involving entities from the UAE, Bahrain, Qatar, Egypt, Jordan, and Morocco, were finalized at the fifth meeting of the Higher Committee for Integrated Industrial Partnership for Sustainable Economic Development, which commenced on Sunday in Doha, Qatar.
These agreements focus on establishing new manufacturing facilities, securing raw material supplies, transferring technology, and fostering collaboration in key industries such as metals, pharmaceuticals, plastics, and biotechnology. Additionally, they aim to enhance food production and drive innovation in electrical and high-tech sectors.
Among the major deals, Bahrain Steel signed a $1.3 billion agreement with Qatar to supply 5 million metric tonnes of raw materials over five years. Meanwhile, the UAE’s ISC Capital partnered with Bahrain’s Peninsula Farms to invest $10 million in a sustainable microalgae production facility.
Egypt’s Giza Cable Accessories is set to establish a new facility in the UAE, specializing in cable accessories and electrical connectors, with an estimated investment of $7 million. The UAE’s Mubadala Investment Company also expanded its presence in the region by acquiring two factories—Adwia Pharmaceuticals in Egypt and PHI in Morocco—though specific details remain undisclosed.
In the pharmaceutical sector, the UAE’s Globalpharma and Morocco’s Zenith Pharma reached a deal worth over $50 million to manufacture, license, and transfer technology for injectable medications, biologics, and treatments for cholesterol and diabetes.
The plastics industry also saw significant investments, with Jordan’s Exceed Industries and Egypt’s Delta El Nile securing $10 million contracts each to supply PET plastic containers and plastic caps to the UAE’s Hayatna – National Dairy.
Additionally, a $15 million agreement was signed between the UAE’s National Feed Factory and Qatar’s Al Rayyan Horse Essentials for the supply of animal feed.
These strategic partnerships highlight the growing cooperation among MENA nations in advancing industrial development and fostering economic sustainability across the region.