- ARAB NEWS
- 22 Jan 2025
Since 1975
RIYADH: The Saudi Ministry of Health is showcasing its latest projects in therapeutic and pharmaceutical healthcare at the CPHI Middle East exhibition in Riyadh.
The event, held from Dec. 10-12, brings together more than 400 exhibitors from 100 countries and over 150 speakers from the pharmaceutical industry.
It aligns with the goals of the health sector transformation program, outlined in the Kingdom’s Vision 2030, which aims to foster a vibrant society with a healthy life.
Among the key highlights are advancements in biotechnology, highlighting the ministry’s support for the national biotechnology strategy, which seeks to position Saudi Arabia as a regional and global biotechnology hub while enhancing self-sufficiency in the sector.
The pavilion also presents investment opportunities in biotechnology, aiming to enable sector growth and establish the Kingdom as a global leader, the Saudi Press Agency reported.
Key initiatives include implementing strategic incentives to attract international companies, promoting sustainable marketing, enhancing financing capabilities, fostering joint investments and driving infrastructure investments.
Minister of Health Fahad Al-Jalajel said: “Hosting the CPHI Middle East exhibition in the Kingdom underscores our dedication to enhancing Saudi Arabia’s role as a hub for pharmaceutical industry innovation in the region.
“This aligns with the Kingdom’s efforts to implement the National Biotechnology Strategy, which aims to contribute 3 percent to gross domestic product, totaling SR130 billion ($34.6 billion) annually by 2040.”
Al-Jalajel oversaw the signing of agreements worth SR10 billion and announced partnerships with major companies, including Vertex Pharmaceuticals for a project valued at around SR1 billion, and Tabuk Pharmaceuticals with an investment of SR100 million.
Vice Minister of Health for Planning and Development Abdulaziz Al-Ramaih praised the transformation of the healthcare sector and the expanding role of private industry in the pharmaceutical industry.
He highlighted the Kingdom’s goal to lead the biotechnology sector in the Middle East and North Africa by 2030 through the National Biotechnology Strategy, which aims to create numerous jobs by supporting research, innovation and integrated biomanufacturing, while boosting the sector’s growth and competitiveness.
Al-Ramaih noted the pivotal role of the pharmaceutical sector in enhancing public health, strengthening health security, fostering economic growth and bolstering the Kingdom’s global standing.
