Crown Prince Mohammed bin Salman announced today, Jan. 25, the launch of the National Biotechnology Strategy.
The strategy aims to enhance the Kingdom’s leading position in the sector, as a key enabler that will strengthen national health resilience and raise the quality of life. It will also focus on protecting environment, achieving food and water security, maximizing economic opportunities and localizing promising industries to realize the Saudi Vision 2030 objectives, the Saudi Press Agency reported.
The rollout of the strategy seeks to address challenges and seize opportunities in a fast-growing sector. This strategy represents a comprehensive roadmap for Saudi Arabia to become a global hub for biotechnology by 2040.
The promising biotechnology sector will provide significant opportunities to enhance the health and quality of life for citizens, promote economic growth, create high-quality jobs, and attract investments that contribute to the development of new industries, while ensuring a more sustainable environment.
The biotechnology is among the fast-growing sectors, with some biotechnologies demonstrating high success rates. The sector encompasses emerging and modern technologies capable of taking it to new levels with significant impact. This aligns with the Kingdom's competitive potential and unique advantages, serving as a foundation and development catalyst for the sector. The Kingdom is the largest regional market for pharmaceuticals and vaccines.
Additionally, Saudi Arabia invests in biotechnology-related sectors, supports the qualification and training of national workforce in research, development, and innovation. The commitment to empowering the regulatory environment, competitive infrastructure, and digital capabilities is evident. The genetic diversity in the Kingdom and its geographic climate provide ideal conditions for conducting complex studies and research.
The National Biotechnology Strategy focuses on four strategic approaches: vaccines, bio-manufacturing & localization, genomics, and plant optimization.
The Kingdom aims to localize the vaccine industry, export vaccines, and lead innovation in the field. Through bio-manufacturing & localization, the country aims to increase the consumption, localization, and export of biopharmaceuticals through bio-manufacturing.
The Kingdom seeks to lead genomics research and gene therapy; and, as part of plant optimization, to enhance self-sufficiency in agriculture and lead innovation.
Through the successful implementation of this strategy, the Kingdom will establish a leading biotechnology hub that drives innovation, job creation, and economic growth. The strategy aims to contribute 3%, or SAR 130 billion, to non-oil real gross domestic product (GDP) by 2040, thereby helping to deliver economic diversification.
The National Biotechnology Strategy was unveiled to consolidate current and future efforts, providing a flexible regulatory environment and advanced infrastructure. It aims to achieve integration between the public and private sectors, and, support the local value chain, as detailed in the published National Biotechnology Strategy document that highlights the Kingdom's vision for the sector.