Saudi Arabia: MODON Signs SAR500 Million Contract to Establish Vaccine Industrial Company

Saudi Authority for Industrial Cities and Technology Zones (MODON)
Saudi Authority for Industrial Cities and Technology Zones (MODON)
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Saudi Arabia: MODON Signs SAR500 Million Contract to Establish Vaccine Industrial Company

Saudi Authority for Industrial Cities and Technology Zones (MODON)
Saudi Authority for Industrial Cities and Technology Zones (MODON)

Saudi Authority for Industrial Cities and Technology Zones (MODON) has signed a SAR500 million investment agreement with the Vaccine Industrial Company (Vaccine) to set up a joint venture factory in Sadeer City to strengthen the pharmaceutical security system and localize the manufacturing of vaccines and vital medicines in the Kingdom.
This agreement comes in line with MODON's strategy to create an integrated industrial and investment community to attract national and foreign investor partners and to reinforce its initiatives and efforts to enhance the sustainability of the industrial sector, in addition to increasing the pharmaceutical sector's share of GDP and raising the percentage of its exports, in line with the objectives of the national industry strategy to make the Kingdom an attractive hub for quality investments.
The 42,000 square meter plant will create around 150 new jobs and aims to achieve 20% export of seasonal flu virus, COVID-19, chickenpox, and rotavirus vaccines, in addition to pneumococcal and meningitis vaccines, given the strong demand for Saudi pharmaceutical exports in the Gulf and regional countries.



Saudi Arabia Records Significant Increase in Potato Production

Saudi Arabia Records Significant Increase in Potato Production
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Saudi Arabia Records Significant Increase in Potato Production

Saudi Arabia Records Significant Increase in Potato Production

The Saudi Ministry of Environment, Water and Agriculture announced a remarkable 47% increase in potato production in 2023, achieving a self-sufficiency rate of 86% with over 621,750 tons of potatoes produced compared to 423,770 tons in 2021.

This milestone was achieved after more than 17,000 hectares of land were cultivated with potatoes in 2023, up from 15,890 hectares in 2021. The potato production surge has positively impacted the manufacturing sector, stimulating investment and the use of advanced technologies.

According to the Ministry, overall vegetable production in 2023 reached 3.21 million tons, marking a 19% rise from 2020.

The significant improvement in agricultural productivity and its SAR109 billion contribution to the GDP are attributed to the Ministry's strategic initiatives focused on boosting self-sufficiency, attracting investments, and providing financial support, including increased financing rates for modern technology-based projects.

By prioritizing local production and reducing reliance on imports, the ministry aims to achieve the goals outlined in Saudi Vision 2030 and diversifying the national economy.