Saudi Arabia Establishes Research Centers to Advance Biotech Strategy

A Saudi student is seen at the Analytical Chemistry Lab at King Abdullah University of Science and Technology. (KAUST)
A Saudi student is seen at the Analytical Chemistry Lab at King Abdullah University of Science and Technology. (KAUST)
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Saudi Arabia Establishes Research Centers to Advance Biotech Strategy

A Saudi student is seen at the Analytical Chemistry Lab at King Abdullah University of Science and Technology. (KAUST)
A Saudi student is seen at the Analytical Chemistry Lab at King Abdullah University of Science and Technology. (KAUST)

Saudi Arabia has made significant strides in the biotechnology sector following the launch of its national strategy in early 2024, aiming to position itself as a leading global hub in the field.

The Kingdom has witnessed rapid developments in regulatory frameworks and infrastructure, facilitating the establishment of research centers and specialized laboratories that drive progress toward the strategy’s goals.

Biotechnology is a broad scientific and technological discipline involving the use of microorganisms, cells, and biological systems to develop products and applications that benefit various industries. It is considered a key tool for fostering development and enhancing societal well-being.

Prince Mohammed bin Salman, Crown Prince and Prime Minister, launched the National Biotechnology Strategy in January last year, aiming to make the sector contribute 3% to the Kingdom’s non-oil GDP by 2040, with a total economic impact of 130 billion riyals ($35 billion).

The strategy is expected to drive the expansion of the biotechnology industry while creating high-quality jobs in the coming years, with more than 11,000 positions projected by 2030.

The global biotechnology market was valued at around $1.5 trillion in 2023 and is projected to reach $4 trillion by 2030, according to a report by consultancy firm Arthur D. Little last year.

The forecast underscores the sector’s rapid growth, positioning biotechnology not only as a driver of scientific advancement but also as a major economic opportunity.

Saudi Arabia has established specialized research centers and advanced laboratories while localizing key industries such as insulin and vaccine production. At the same time, the Kingdom has strengthened collaboration with global institutions, accelerating innovation and enhancing self-sufficiency.

Saudi Bio, the Kingdom’s first biotechnology firm focused on technology transfer and localizing biotech industries, has made significant strides in this effort.

Dr. Khaled Al-Mosa, the company’s founder and vice chairman, highlighted the Kingdom’s progress, emphasizing that Saudi Arabia’s transformation is not limited to infrastructure development but also includes building a supportive regulatory environment that has made it an attractive destination for biotech companies.

“Saudi Arabia has undergone a major shift since launching its biotechnology strategy,” Al-Mosa told Asharq Al-Awsat.

“The Kingdom has achieved several milestones, including establishing specialized research centers, advanced laboratories, and leading national companies in the biotech field,” he remarked.

Collaboration with leading global research and development institutions has been a key driver of Saudi Arabia’s progress in biotechnology, helping to develop new technologies and scientific breakthroughs, according to Al-Mosa.

He noted that the Kingdom has successfully localized several critical industries, including insulin and vaccine production, boosting self-sufficiency and reducing reliance on imports.

Saudi Arabia’s supportive regulatory framework has also facilitated the growth of biotech firms, Al-Mosa said. The national strategy has streamlined licensing procedures and introduced financial and customs incentives to attract local and foreign investment.

The Kingdom has further strengthened its research and training capabilities by establishing specialized training centers and offering research grants for scientists, accelerating innovation and production. These initiatives, he added, have positioned Saudi Arabia as a preferred destination for biotechnology companies.

Looking ahead, Al-Mosa expressed optimism about the sector’s growth, driven by continued investment in research, development, and training. He expects an increase in biotech startups and new projects, enhancing Saudi Arabia’s global competitiveness.



Gold Hovers Near Record Levels, Fed Meeting in Focus

A participant shows gold bars during the 21st edition of the international gold and jewelry exhibition at the Kuwait International Fairgrounds in Kuwait City on May 23, 2024. (Photo by Yasser AL ZAYYAT / AFP)
A participant shows gold bars during the 21st edition of the international gold and jewelry exhibition at the Kuwait International Fairgrounds in Kuwait City on May 23, 2024. (Photo by Yasser AL ZAYYAT / AFP)
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Gold Hovers Near Record Levels, Fed Meeting in Focus

A participant shows gold bars during the 21st edition of the international gold and jewelry exhibition at the Kuwait International Fairgrounds in Kuwait City on May 23, 2024. (Photo by Yasser AL ZAYYAT / AFP)
A participant shows gold bars during the 21st edition of the international gold and jewelry exhibition at the Kuwait International Fairgrounds in Kuwait City on May 23, 2024. (Photo by Yasser AL ZAYYAT / AFP)

Safe-haven gold firmed on Monday, trading near an all-time high scaled in the previous session, while the market's focus shifted to the US Federal Reserve's meeting this week.

Spot gold added 0.5% to $2,997.84 an ounce, as of 1141 GMT. Prices hit a record high of $3,004.86 on Friday amid geopolitical uncertainty.

US gold futures eased 0.2% to $3,006.10.

"We expect prices to edge higher on a similar trajectory with dips bought as FOMO (fear of missing out) trades support the market," said Ross Norman, an independent analyst, Reuters reported.

"In short, we would be surprised not to see the $3,150 level in the coming months much as we had forecasted - albeit much quicker than we had anticipated."

US Treasury Secretary Scott Bessent said on Sunday that there are "no guarantees" there will not be a recession in the country, adding to investor worries of an impending economic downturn due to the President's trade policies.

"Short term, we acknowledge that the market has drifted into technical overbought territory, but think the prevailing mood among investors remains one of caution for US equities and confidence in gold," UBS said in a note.

US stock markets closed down sharply last week amid mounting uncertainties arising from tariff threats against the biggest US trading partners.

Markets now await the Fed's two-day monetary policy meeting that ends on Wednesday for clues on the interest rate trajectory. The Fed is widely expected to keep rates on hold after having reduced them by 100 basis points since September.

Bullion tends to do well in a low interest rate environment and is also seen as a hedge against geopolitical turmoil, economic uncertainties, and inflation.

Spot silver was flat at $33.79 an ounce, while platinum rose 0.6% to $999.20, and palladium gained 0.9% to $973.50.