Pharmacy License in Dubai – UAE : UAE has opened its arms to all businesses, be it in the oil or non-oil industries! The business sector has always been a lifeline to the economy of the United Arab Emirates, and it has lifted the nation to its next level. Serving as a hotbed for entrepreneurs and established business persons in every industry, the UAE has welcomed each business with its top-rated infrastructure facilities and relaxed taxation.
This has caused the healthcare industry to flourish in the UAE, and the opportunities are high enough to reach the next level. This has presented a vast platform for hospitals, doctors, pharmacists, and other healthcare industry professionals to upgrade their skills and later on initiate a business in the UAE. To establish a pharmacy, the owner should hold a license. If you are in the medical profession and seek to set up a pharmacy business, then the UAE is the very spot you should go for.
As per reports, the UAE pharmaceutical industry is the second-largest market in the GCC region after Saudi Arabia. Medical tourism has grown rapidly over the years and is on the verge of attracting 1.3 million tourists by 2021. Global Data’s analysis projects a $5.7 billion growth in the pharmaceutical industry by 2020. The UAE’s pharmaceutical industry imports products from 72 countries, establishing it as a platform for import-export business. The UAE Government has implemented multiple initiatives to ensure long-term growth in this sector. Dubai, the business hub of the UAE, seeks to attract $2.5 billion in investment to the sector, which is part of the UAE industrial strategy until 2030.
The Federal Law No. 4 stated in 1993 insists that any person who is planning to set up a pharmacy business in Dubai needs to obtain a pharmacy license from the Department of Health Authority (DHA) to commence the business operations, be it selling or manufacturing medicines. Hence, if you have plans to establish a company in Dubai in the pharmaceutical sector, which has a bright potential to become a thriving market in the future, you need to keep in mind that the license document plays a vital role at the initial phase of setting up the company. In the next section of the article, you will get clarity regarding the documents that need to be presented. With the help of a drug or pharmacy license, you can