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Al-Khorayef: Saudi Arabia Seeking to Localize Large Range of Pharmaceutical Industries

Saudi Minister of Industry and Mineral Resources Bandar Al-Khorayef speaks at the Global Health Forum. (Asharq Al-Awsat)
Saudi Minister of Industry and Mineral Resources Bandar Al-Khorayef speaks at the Global Health Forum. (Asharq Al-Awsat)
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Al-Khorayef: Saudi Arabia Seeking to Localize Large Range of Pharmaceutical Industries

Saudi Minister of Industry and Mineral Resources Bandar Al-Khorayef speaks at the Global Health Forum. (Asharq Al-Awsat)
Saudi Minister of Industry and Mineral Resources Bandar Al-Khorayef speaks at the Global Health Forum. (Asharq Al-Awsat)

Saudi Minister of Industry and Mineral Resources Bandar Al-Khorayef revealed that around 8,000 types of medicines are consumed in the Kingdom, highlighting that the country has identified a set of priorities, focusing on approximately 172 medicines and localizing the production of around 42 of them.

During a panel discussion on the first day of the 7th edition of the Global Health Forum, held in Riyadh on Monday, Al-Khorayef stated that Saudi Arabia offers significant facilitation for industrialization and localization, with a clear framework for enablers and incentives to encourage investors and stakeholders to enter the healthcare sector.

The ministry is collaborating with various sectors to develop industries in the Kingdom, with the goal of positioning the country as a global hub for vaccine manufacturing, he noted.

The minister pointed to “ongoing discussion about identifying global vaccine manufacturing locations, and we aim for Saudi Arabia to be one of these key areas.”

Al-Khorayef explained that the Vaccine and Biological Medicines Industry Committee has already become the central body managing investment attraction and localizing this industry. This provides global partners with a clear understanding of the Kingdom’s requirements and the market opportunities, offering them a clear point of reference for localizing the sector.

He further emphasized that Saudi Arabia has developed local content tools to facilitate technology transfer, ensuring that companies entering the local market will be successful and sustainable.

Al-Khorayef highlighted the growth in medical device manufacturing plants in the Kingdom, which increased from 54 to 150, while pharmaceutical factories grew from 42 to 56.

He also pointed out that advanced technologies, such as 3D printing, align well with the Saudi market. These technologies offer exceptional solutions to assist doctors and healthcare providers and have already reached advanced stages in their use for certain surgeries.

Additionally, the Kingdom is building a broad industrial base, a significant part of which will support the medical device sector, including industries such as metals, advanced petrochemicals, and chemical pharmaceuticals.

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Riyadh to Host Saudi Rail Conference and Exhibition on November 20-21

The conference aligns with SAR's efforts to achieve the objectives of the National Transport and Logistics Strategy under Saudi Vision 2030 by attracting and localizing cutting-edge railway technologies. (Saudi Arabia Railways)
The conference aligns with SAR's efforts to achieve the objectives of the National Transport and Logistics Strategy under Saudi Vision 2030 by attracting and localizing cutting-edge railway technologies. (Saudi Arabia Railways)
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Riyadh to Host Saudi Rail Conference and Exhibition on November 20-21

The conference aligns with SAR's efforts to achieve the objectives of the National Transport and Logistics Strategy under Saudi Vision 2030 by attracting and localizing cutting-edge railway technologies. (Saudi Arabia Railways)
The conference aligns with SAR's efforts to achieve the objectives of the National Transport and Logistics Strategy under Saudi Vision 2030 by attracting and localizing cutting-edge railway technologies. (Saudi Arabia Railways)

Riyadh is slated to host the inaugural edition of the Saudi Rail Conference and Exhibition on November 20-21, under the patronage of Minister of Transport and Logistic Services and Chairman of Saudi Arabia Railways (SAR) Saleh Al-Jasser.

The event will highlight the advancements and innovations in the railway sector and gather insights from local and international perspectives.

Al-Jasser emphasized that the event aligns with the transformative developments taking place in the Kingdom's transportation and logistics sector, particularly in the railway industry, and highlighted the substantial support provided by Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, to the sector.

Al-Jasser underscored the pivotal role railways play in driving the Kingdom's economic and social development by facilitating the movement of people and goods, helping to boost trade and tourism, serving Hajj and Umrah pilgrims, and contributing to reducing emissions by decreasing the number of daily car and truck trips.

He reiterated the Kingdom's commitment to advancing railway infrastructure, enhancing rail network efficiency, and improving user services.

Several national railway projects are underway as part of the Kingdom's strategic vision to strengthen its position as a leading global logistics hub, he went on to say.

SAR CEO Dr. Bashar AlMalik said that by hosting this event, Saudi Arabia reinforces its leading position in the transport and logistics sector, and positions itself as a global hub for railway operators.

The conference, one of the largest events of its kind in the Middle East and North Africa region, will be attended by a large number of industry experts. Over 200 local and international speakers will engage in panel discussions focused on cutting-edge innovations and solutions in the railway sector.

It will feature more than 200 exhibitors, offering a crucial platform for networking and exchange of knowledge among key industry stakeholders.

The conference aligns with SAR's efforts to achieve the objectives of the National Transport and Logistics Strategy under Saudi Vision 2030 by attracting and localizing cutting-edge railway technologies, solidifying the Kingdom's position as a global logistics hub that collaborates with both domestic and international stakeholders.

SAR's network has expanded to include three intercity lines: the North Railway, the East Railway, and the Haramain High-Speed Railway, inaugurated by the Custodian of the Two Holy Mosques in 2018.

The network also encompasses key urban lines, including the Mashaer Train (serving pilgrims), the Riyadh Metro, the King Abdulaziz International Airport Railway in Jeddah, and the Princess Noura University Railway. In total, the railway network spans over 5,500 kilometers, demonstrating the Kingdom's commitment to building a comprehensive and interconnected transportation system.