Saudi Arabia Initiates National Biotechnology Strategy to Spearhead Global Innovation

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On Thursday, Crown Prince Mohammed bin Salman launched a new national biotechnology strategy about the localization of vaccine manufacturing and improvement in the health of Saudi citizens.

According to the Saudi Press Agency, the new initiative focuses on the Kingdom’s self-sufficiency and timely access to medicines for its citizens aligned with the Kingdom’s Vision 2030 objectives. 

The program targets a 3 percent contribution of the biotechnology sector to the non-oil gross domestic product by 2040 with a cumulative impact of SR 13 billion ($34.66 billion) along with the provision of high-quality opportunities and jobs. 

“Localization and biomanufacturing play a vital role in driving the strategy forward, as Saudi Arabia aims to establish itself as the primary biotechnology hub in the MENA (Middle East and North Africa) region”, said the SPA report. The program focuses on four strategic directions with emphasis on localizing vaccine production, exporting, and leading innovation in the field. 

The Kingdom is focusing on prioritizing biomanufacturing to boost biopharmaceutical consumption and localization. It is also focusing on genomics, pioneering research and gene therapy. 

As the largest regional market for pharmaceuticals and vaccines, the Kingdom is investing in biotechnology-related sectors, developing and training national talent, and enabling a competitive and digital infrastructure. The country’s genetic diversity and climate provide ideal conditions for complex studies.

The launch of the strategy also aims to boost the local biotechnology industry by streamlining regulatory requirements and offering financing. It stimulates private sector investment and promotes a flexible regulatory environment, fostering integration between public and private sectors through various programs and initiatives.

Source: Arab News

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