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Saudi Crown Prince Launches National Biotechnology Strategy

Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al-Saud. SPA
Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al-Saud. SPA
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Saudi Crown Prince Launches National Biotechnology Strategy

Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al-Saud. SPA
Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al-Saud. SPA

Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al-Saud has launched the National Biotechnology Strategy, a comprehensive roadmap designed to enhance the Kingdom's position as a leader in the sector.

The strategy is a key enabler that will strengthen national health resilience and promote growth in the fast-growing biotechnology sector. A document was released that outlines the vision for what is possible with the power of biotechnology and the steps that will be taken to harness its potential.
The National Biotechnology Strategy works to address challenges and seize opportunities in a rapidly growing sector, serving as a roadmap for becoming a global leader in biotechnology by 2040. The strategy focuses on enhancing the health and well-being of Saudi citizens, stimulating economic growth, creating skilled job opportunities, and attracting investments to foster new industries, all while promoting a sustainable environment and contributing to Vision 2030.
With the ambition of becoming the biotechnology leader in the MENA region by 2030 and a major international biotechnology hub by 2040, the National Biotechnology Strategy will build on the Kingdom’s existing strengths including access to robust capital, large market, government commitment and a unique gene pool, to advance its capabilities across four strategic plays: vaccines, bio-manufacturing & localization, genomics, and plant optimization.
The Kingdom recognizes the importance of vaccines and is committed to developing innovative vaccine technologies. By localizing vaccine manufacturing, the strategy aims to increase the Kingdom's self-sufficiency and ensure timely access to vaccines for its citizens. 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 region.

Developing advanced biopharma manufacturing capabilities and establishing a cutting-edge local end-to-end bio-manufacturing platform are crucial steps. These endeavors contribute to the availability of life-saving treatments, strengthen the domestic biotechnology industry, and solidify the Kingdom's position as a significant player in the global biotechnology landscape.

Genomics is a disruptive field and the next frontier of medicine, and the Kingdom aspires to become the leading genomics player in MENA, driving innovation and improving health and wellbeing outcomes for its citizens and beyond.

The National Biotechnology Strategy also contributes to strengthening food security and sustainable agricultural productivity through plant optimization. By leveraging biotechnology, the strategy aims to reduce reliance on food imports and enhance domestic production, ensuring a more sustainable and self-sufficient food supply.
The evolution of a mature and functional biotechnology ecosystem in Saudi Arabia will be enabled by a set of initiatives that systematically address barriers across talent, regulation, funding, and infrastructure.

With a robust pipeline of programs and initiatives, the strategy will catalyze the growth of Saudi Arabia’s biotechnology sector and unify efforts in the ecosystem, creating high quality jobs by 2030, and exciting opportunities for investors and biotechnology talent.

This strategy marks a significant milestone for Saudi Arabia in becoming a major player in the regional and global biotechnology sector. It aims to contribute 3% of non-oil real GDP by 2040, thereby helping to deliver economic diversification. Through the successful implementation of this strategy, the Kingdom will establish a leading biotechnology hub that drives innovation, job creation, and economic growth.

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Japan Says No Plan for Big Concessions in Talks on US Tariffs 

Japanese Prime Minister Ishiba Shigeru speaks at a joint press briefing after his meeting with NATO Secretary General Mark Rutte (not pictured) at the Prime Minister's Office in Tokyo, Japan, April 9, 2025. (Reuters)
Japanese Prime Minister Ishiba Shigeru speaks at a joint press briefing after his meeting with NATO Secretary General Mark Rutte (not pictured) at the Prime Minister's Office in Tokyo, Japan, April 9, 2025. (Reuters)
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Japan Says No Plan for Big Concessions in Talks on US Tariffs 

Japanese Prime Minister Ishiba Shigeru speaks at a joint press briefing after his meeting with NATO Secretary General Mark Rutte (not pictured) at the Prime Minister's Office in Tokyo, Japan, April 9, 2025. (Reuters)
Japanese Prime Minister Ishiba Shigeru speaks at a joint press briefing after his meeting with NATO Secretary General Mark Rutte (not pictured) at the Prime Minister's Office in Tokyo, Japan, April 9, 2025. (Reuters)

Japanese Prime Minister Shigeru Ishiba said on Monday his country does not plan to make big concessions and won't rush to reach a deal in upcoming tariff negotiations with US President Donald Trump's administration.

Japan, a long-time US ally, has been hit with 24% levies on its exports to the United States though these tariffs have, like most of Trump's sweeping "reciprocal" tariffs, been paused for 90 days.

But a 10% universal rate remains in place as does a 25% duty for cars, which is set to be particularly painful. The US is Japan's biggest export destination and automobile shipments account for roughly 28% of its exports there.

The two countries will begin trade talks on Thursday in Washington that are expected to cover tariffs, non-tariff barriers and exchange rates.

"I'm not of the view that we should make big concessions for the sake of wrapping up negotiations quickly," Ishiba said in parliament, though he ruled out slapping Japanese tariffs on US imports as a countermeasure.

"In negotiating with the United States, we need to understand what's behind Trump's argument both in terms of the logic and the emotional elements behind his views," Ishiba said, noting that US tariffs have the potential to disrupt the global economic order.

Bank of Japan Governor Kazuo Ueda warned of forthcoming pain.

"US tariffs will likely put downward pressure on the global and Japanese economies through various channels," Ueda told the same parliament session.

In addition to its large trade surplus with the US, Trump has also accused Japan of intentionally maintaining a weak yen - leading to expectations that Tokyo could come under pressure to strengthen its currency - even though a broad dollar sell-off has pushed up the yen of late.

The slow pace at which the Bank of Japan is raising borrowing costs from ultra-low levels could also come under fire in the talks, sources have previously said.

Economy Minister Ryosei Akazawa, who will lead Japan's delegation, said any discussion on currency rates will be held between Japanese Finance Minister Katsunobu Kato and US Treasury Secretary Scott Bessent.

"Both countries share the view that excessive market volatility would have adverse effects on the economy," Kato said.

Any discussion on the yen may spill over to monetary policy and complicate the BOJ's decision on how soon, and by how much, it should raise still-low interest rates.

Akira Otani, a former top central bank economist who is currently managing director at Goldman Sachs Japan, said the BOJ could consider halting interest rate hikes if the yen were to approach 130 to the dollar.

Conversely, a yen slide below 160 could bring forward or accelerate future rate hikes, he said.

The dollar fell 0.62% to 142.62 yen on Monday.

Japan has historically sought to prevent its currency from rising too much, as a strong yen hurts its export-reliant economy. But a weak yen has become the bigger headache in recent years as it has boosted import costs and hurt consumer spending.

Ruling and opposition party lawmakers have escalated calls for the government to cut tax or offer cash payouts to cushion the economic blow from rising living costs and Trump's tariffs.

Ishiba said the government is not thinking of issuing a supplementary budget now, but stood ready to act in a timely fashion to cushion any economic blow.