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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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Saudi Arabia Makes History with Adoption of Riyadh Treaty on Design Law

Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
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Saudi Arabia Makes History with Adoption of Riyadh Treaty on Design Law

Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)

Saudi Arabia has made history by uniting the 193 member states of the World Intellectual Property Organization (WIPO) to adopt the Riyadh Treaty on Design Law. This landmark achievement, realized after two decades of deliberation, underscores the Kingdom’s leadership in enhancing the global intellectual property system.

The announcement came at the conclusion of the Riyadh Diplomatic Conference on the Design Law Treaty, a rare event for WIPO, which has not held a diplomatic conference outside Geneva for more than a decade. It was also the first such event hosted in Saudi Arabia and the Middle East, representing the final stage of negotiations to establish an agreement aimed at simplifying and standardizing design protection procedures across member states.

Over the past two weeks, intensive discussions and negotiations among member states culminated in the adoption of the Riyadh Treaty, which commits signatory nations to a unified set of requirements for registering designs, ensuring consistent and streamlined procedures worldwide. The agreement is expected to have a significant positive impact on designers, enabling them to protect their creations more effectively and uniformly across international markets.

At a press conference held on Friday to mark the event’s conclusion, CEO of the Saudi Authority for Intellectual Property Abdulaziz Al-Suwailem highlighted the economic potential of the new protocol.

Responding to a question from Asharq Al-Awsat, Al-Suwailem noted the substantial contributions of young Saudi men and women in creative design. He explained that the agreement will enable their designs to be formally protected, allowing them to enter markets as valuable, tradable assets.

He also emphasized the symbolic importance of naming the convention the Riyadh Treaty, stating that it reflects Saudi Arabia’s growing influence as a bridge between cultures and a global center for innovative initiatives.

The treaty lays critical legal foundations to support designers and drive innovation worldwide, aligning with Saudi Arabia’s vision of promoting international collaboration in the creative industries and underscoring its leadership in building a sustainable future for innovators.

The agreement also advances global efforts to enhance creativity, protect intellectual property, and stimulate innovation on a broader scale.

This achievement further strengthens Saudi Arabia’s position as a global hub for groundbreaking initiatives, demonstrating its commitment to nurturing creativity, safeguarding designers’ rights, and driving the development of creative industries on an international scale.

The Riyadh Diplomatic Conference, held from November 11 to 22, was hosted by the Saudi Authority for Intellectual Property and attracted high-ranking officials and decision-makers from WIPO member states.