عربي English Türkçe اردو فارسى
Logo
Latest News
Business

Saudi Localization of Pharmaceutical Industry a Priority to Face Future Emergency

An industrial city in Saudi Arabia. (SPA)
An industrial city in Saudi Arabia. (SPA)
TT
TT

Saudi Localization of Pharmaceutical Industry a Priority to Face Future Emergency

An industrial city in Saudi Arabia. (SPA)
An industrial city in Saudi Arabia. (SPA)

Saudi Arabia wants to localize its pharmaceutical industries in anticipation of any future changes at the level of supply chains.

Saudi Minister of Industry and Mineral Resources Bandar al-Khorayef announced that localization is now the government’s top priority given the importance of drug security.

Khorayef stressed that all parts of the industrial system complement their roles in providing the necessary infrastructure, financing and logistical support.

The minister visited Monday al-Madina al-Munawwara Industrial City where he inspected services and progress in various projects.

He indicated that localization and providing a suitable job environment for Saudis is equally important as localizing the pharmaceutical industry itself.

He added that industry has a great opportunity to generate qualitative jobs in various regions of the Kingdom, stressing that localization should provide qualitative jobs.

The minister visited Razi al-Madinah Pharmaceuticals, which was recently inaugurated by Madinah Governor Prince Faisal bin Salman bin Abdulaziz, as the first pharmaceutical factory in the region, covering an area of 13,800 square meters.

The company produces various medicines, creams and cosmetics, and aims to export all products to the Middle East, Asia and Europe.

Khorayef also toured Maaden for industrial minerals, which produces Magnesium Carbonate, Magnesite, and Caustic Calcined Magnesia, and exports its products to Gulf countries, Asia, Europe, the United States, Egypt, Tunisia and South Africa.

Director-General of the Saudi Authority for Industrial Cities and Technology Zones (MODON), Khalid al-Salem, underscored the state’s keenness on industrial development.

He said the Minister of Industry is communicating with investors and supervising the development stages of various projects in all industrial cities.

MODON wants to create an integrated environment to attract and localize national and international investments through its strategy to empower the industry, increase local content and enhance the factories’ ability to achieve the highest levels of productivity in line with Vision 2030.

Al-Madina al-Munawwara Industrial City was established in 2003 over an area of 17 million square meters. It hosts over 334 factories, with a total capital of $30.1 billion.

It boasts diverse industries such as computers, electronics, machinery and equipment, leather, pharmaceutical, food, rubber and plastic products and chemicals, motor vehicles, and textiles.

The Industrial City is located in a geographical area rich in various natural resources including gold, nickel, copper, and other mineral ores. Investment in the mining sector in the region has reached $1.6 billion.

Most Viewed

 
 
Business

Gaza Faces Multi-billion-dollar Reconstruction Challenge

A drone view shows Palestinians walking past the rubble of houses and buildings destroyed in Israeli strikes during the war, following a ceasefire between Israel and Hamas, in Khan Younis in the southern Gaza Strip, January 20, 2025. REUTERS/Mohammed Salem
A drone view shows Palestinians walking past the rubble of houses and buildings destroyed in Israeli strikes during the war, following a ceasefire between Israel and Hamas, in Khan Younis in the southern Gaza Strip, January 20, 2025. REUTERS/Mohammed Salem
TT
TT

Gaza Faces Multi-billion-dollar Reconstruction Challenge

A drone view shows Palestinians walking past the rubble of houses and buildings destroyed in Israeli strikes during the war, following a ceasefire between Israel and Hamas, in Khan Younis in the southern Gaza Strip, January 20, 2025. REUTERS/Mohammed Salem
A drone view shows Palestinians walking past the rubble of houses and buildings destroyed in Israeli strikes during the war, following a ceasefire between Israel and Hamas, in Khan Younis in the southern Gaza Strip, January 20, 2025. REUTERS/Mohammed Salem

Billions of dollars will be needed to rebuild Gaza after the war between Israel and the Palestinian militant group Hamas, according to assessments from the United Nations, Reuters reported. A ceasefire between Israel and Hamas took effect on Sunday, suspending a 15-month-old war that has devastated the Gaza Strip and inflamed the Middle East.
Here is a breakdown of the destruction in Gaza from the conflict prompted by the Oct. 7, 2023 attack on Israel by militants from Hamas, which at the time ruled the Palestinian enclave.
HOW MANY CASUALTIES ARE THERE? The Hamas attack on Israel killed 1,200 people, according to Israeli tallies. Israel's retaliation has killed more than 46,000 people, according to Gaza's health ministry.
HOW LONG WILL IT TAKE TO CLEAR THE RUBBLE? A UN damage assessment released this month showed that clearing over 50 million tons of rubble left in the aftermath of Israel's bombardment could take 21 years and cost up to $1.2 billion. The debris is believed to be contaminated with asbestos, with some refugee camps struck during the war known to have been built with the material. The rubble also likely holds human remains. The Palestinian Ministry of Health estimates that 10,000 bodies are missing under the debris. A United Nations Development Program official said on Sunday that development in Gaza has been set back by 69 years as a result of the conflict.
HOW MANY BUILDINGS HAVE BEEN DESTROYED?
Rebuilding Gaza's shattered homes will take at least until 2040, but could drag on for many decades, according to a UN report released last year. Two-thirds of Gaza's pre-war structures - over 170,000 buildings - have been damaged or flattened, according to U. satellite data (UNOSAT) in December. That amounts to around 69% of the total structures in the Gaza Strip.
Within the count are a total of 245,123 housing units, according to an estimate from UNOSAT. Currently, over 1.8 million people are in need of emergency shelter in Gaza, the UN humanitarian office said.
WHAT IS THE INFRASTRUCTURE DAMAGE? The estimated damage to infrastructure totaled $18.5 billion as of end-January 2024, affecting residential buildings, commerce, industry, and essential services such as education, health, and energy, a UN-World Bank report said. It has not provided a more recent estimate for that figure.
An update by the UN humanitarian office this month showed that less than a quarter of the pre-war water supplies were available, while at least 68% of the road network has been damaged.
HOW WILL GAZA FEED ITSELF? More than half of Gaza's agricultural land, crucial for feeding the war-ravaged territory's hungry population, has been degraded by conflict, satellite images analyzed by the United Nations show.
The data reveals a rise in the destruction of orchards, field crops and vegetables in the Palestinian enclave, where hunger is widespread after 15 months of Israeli bombardment.
The UN Food and Agriculture Organization said last year that 15,000 cattle, or over 95%, of the total had been slaughtered or died since the conflict began and nearly half the sheep.
WHAT ABOUT SCHOOLS, UNIVERSITIES, RELIGIOUS BUILDINGS?
Palestinian data shows that the conflict has led to the destruction of over 200 government facilities, 136 schools and universities, 823 mosques and three churches. Many hospitals have been damaged during the conflict, with only 17 out of 36 units partially functional as of January, the UN humanitarian office's report showed.
Amnesty International's Crisis Evidence Lab has highlighted the extent of destruction along Gaza's eastern boundary. As of May 2024, over 90% of the buildings in this area, including more than 3,500 structures, were either destroyed or severely damaged.