MUSCAT – Bank Nizwa played a pivotal role in financing Dhofar Pharmaceutical Industries Factory. The factory, located in Raysut, Salalah, is the result of the Health Sector Investment Lab, launched by the Ministry of Health in 2022, in collaboration with Nazdars and in alignment with Oman Vision 2040. This move demonstrates the bank’s dedication to supporting national projects that are vital to driving sustainable progress.
Commenting on the initiative, Khalid Al Kayed, Chief Executive Officer at Bank Nizwa said, “In an increasingly complex world, reliable and accessible healthcare solutions are fundamental to national resilience and stability. The establishment of Dhofar Pharmaceutical Industries Factory marks a significant milestone in the Sultanate’s journey toward self-reliance in healthcare and sets a precedent for future investments.”
He added, “At Bank Nizwa, we take pride in joining hands with organisations that share our vision for progress and sustainability. Our proactive role in financing such initiatives reaffirms our commitment to fostering a diversified economy that meets the evolving needs of the market. As the most trusted Islamic bank, our strategic partnerships in healthcare reflect both our responsibility to enhance societal well-being and our dedication to economic growth.”
Built over an expansive 22,000-square-metre area, the factory is equipped with advanced technologies and adheres to the highest international standards. The project is set to play a critical role in meeting both local and regional demand for pharmaceutical solutions, bolstering Oman’s health security and its goal of reducing reliance on imports. The factory represents a significant advancement in domestic pharmaceutical production capabilities, helping to stabilise local prices and reduce reliance on imported medications. By localising the manufacturing of critical health solutions, this initiative strengthens national health security while promoting economic self-sufficiency. Moreover, its large-scale production capacity will meet both local and regional demand, solidifying the nation’s position as a vital contributor to the broader healthcare sector.
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