Saudi Arabia Sets Sights on Biotech Dominance with Ambitious New Strategy

Riyadh- Crown Prince Mohammed bin Salman has announced the launch of the National Biotechnology Strategy, aimed at elevating Saudi Arabia's position in the sector and strengthening national health resilience while achieving the objectives of Saudi Vision 2030. The strategy, unveiled today, seeks to make Saudi Arabia a global hub for biotechnology by 2040.

The National Biotechnology Strategy addresses key challenges and capitalizes on opportunities in the fast-growing biotech sector. With an emphasis on enhancing citizens' health and quality of life, it also aims to drive economic growth, create high-quality jobs, and attract investments that contribute to the development of new industries, all while promoting environmental sustainability.

As one of the region's fastest-growing sectors, biotechnology offers significant potential for the Kingdom to excel. Saudi Arabia is the largest regional market for pharmaceuticals and vaccines, and with its commitment to research, development, and innovation, it is well-positioned to leverage its genetic diversity and favorable climate for complex studies and research.

The strategy focuses on four strategic approaches: vaccines, bio-manufacturing & localization, genomics, and plant optimization. The Kingdom aims to localize the vaccine industry, increase the consumption and export of biopharmaceuticals through bio-manufacturing, lead genomics research and gene therapy, and enhance self-sufficiency in agriculture through plant optimization.

By successfully implementing the National Biotechnology Strategy, Saudi Arabia envisions establishing a leading biotechnology hub that fosters innovation, job creation, and economic growth. The strategy aims to contribute 3% (SAR 130 billion) to the non-oil real gross domestic product (GDP) by 2040, thereby supporting economic diversification.

The National Biotechnology Strategy is designed to enhance the regulatory environment, develop advanced infrastructure, encourage public-private sector collaboration, and support the local value chain. It consolidates current and future efforts, providing a flexible framework to drive progress in the sector.

With the launch of this strategy, Saudi Arabia paves the way for its transformation into a global biotech powerhouse, as it aligns with its vision for a sustainable and innovative future.