Dr Shamsheer Vayalil, Managing Director of the VPS Health care speaking during the 6TH International oncology conference at the Jumeira etihad towers in Abu Dhabi yesterday Photo Ahmed Kutty/Gulf News Image Credit:

Abu Dhabi: Dr Shamsheer Vayalil, chairman and managing director of VPS Healthcare, was granted permanent residency by the UAE government on Monday.

VPS Health care is one of the top investment groups in the country and owns Burjeel and other hospitals in Abu Dhabi, Dubai and Al Ain.

“This is a great boost for young people. I came here (to the UAE) in 2004 and this is a recognition to dream about. I want more youngsters to benefit from the programme and also benefit the country through investments,” Dr Vayalil told Gulf News.

Dr Vayalil is the youngest businessman to obtain the permanent resident status in Abu Dhabi. The gold card will also be issued to his wife and children.

“My journey from a physician to entrepreneur has been challenging, but very rewarding,” he said in a separate statement.

Hailing the permanent residency programme introduced by the UAE government, he said, “The permanent residency scheme is a great step towards attracting even more talent to the UAE.

“We believe that the UAE’s economy isn’t just powered by jobs and wages, but also by investment and innovation. This programme will certainly result in an increase in inventions, creating a sustainable environment for entrepreneurs that will spur additional job creation and boost competitiveness.”

VPS Health care has 23 hospitals and over 125 medical centres in four countries. Dr Vayalil is also the Vice-Chairman and Managing Director of UAE-based Amanat Holdings, the region’s largest health care and education investment company.

Permanent residency system, also known as the Gold Card, was launched by the UAE government last month to boost investments in the country.

The first batch of beneficiaries will include 6,800 investors whose total investments exceed Dh100 billion, His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, said in a tweet.

MA Yousuf Ali, chairman and managing director of Lulu Group also received the gold card last week.