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Riyadh Hosts Global Medical Biotechnology Summit

Riyadh Hosts Global Medical Biotechnology Summit

Wednesday, 15 September, 2021 - 06:30
Dignitaries at the summit. (SPA)

The Riyadh Global Medical Biotechnology Summit (RGMBS) 2021 was inaugurated on Tuesday under the patronage of Crown Prince Mohammed bin Salman, Deputy Prime Minister and Minister of Defense.

Minister of the National Guard Prince Abdullah bin Bandar bin Abdulaziz inaugurated the event on his behalf.

The summit is organized by the King Abdullah International Medical Research Center (KAIMRC) at the Ministry of National Guard Health Affairs and is being attended by officials and health sector experts from around the world.

Prince Abdullah unveiled the Biomedical Biotechnology Oasis in KAIMRC, saying it is one of the initiatives of the medical biotechnology system in Saudi Arabia. It will contribute in providing economic development opportunities based on medical knowledge, reported the Saudi Press Agency (SPA).

The Oasis will work within a national system and part of strategic partnerships with many local partners, such as the Royal Commission for Riyadh City and the National Industrial Development and Logistics Program (NIDLP), in addition to many global partners.

Executive Director of Health Affairs at the Ministry of National Guard, Dr. Bandar bin Abdulmohsen Al-Kenawi hailed the development and changes the Kingdom is witnessing in the field of health care.

He noted the innovative and creative discoveries it has witnessed, such as molecular treatments, gene therapy, genetic repair, AI applications and big data analysis, as well as the next generation of pharmaceutical manufacturing.

Minister of Health, Dr. Tawfiq bin Fawzan Al-Rabiah said the RGMBS is being held at a time when it has become necessary to discuss the areas of developing medical biotechnology because of its direct and close relationship with human health.

The global market value of biotechnology will reach nearly $700 billion by 2025, and global sales in biotechnology drugs are expected to reach nearly $315 billion this year, he revealed.

The Kingdom's leadership has sought to adopt a national strategy for biomedical technology, one of the most prominent branches of its Vision 2030, to support and motivate it for the future and health of man, he remarked.

Minister of Investment, Eng. Khalid bin Abdulaziz Al-Falih said RGMBS was being held at an important time when Saudi Arabia is seeking to develop itself as a preferred destination for investment in the development and manufacture of vital technologies, as well as its push to become a global center for health care and life sciences.

Chairman of the Saudi Data and Artificial Intelligence Authority (SDAIA), Dr. Abdullah bin Sharaf confirmed that SDAIA's participation in this summit supports the continuous efforts to develop the capabilities of the health sector.

He highlighted the Authority's previous announcement of the launch of the Center of Excellence in Artificial Intelligence for the health sector in cooperation with the Ministry of Health and Health Affairs at the Ministry of National Guard.

He further said that the Center of Excellence aims to find solutions based on modern technologies, artificial intelligence and data technologies in the health field to help increase the accuracy of diagnosing chronic diseases.

Prince Abdullah oversaw the signing of three Memoranda of Understanding (MoU) and partnership on the sidelines of the summit.

The first MoU was signed between KAIMRC and SDAIA, while the second was signed between KAIMRC and the Ministry of Industry and Mineral Resources and the Pfizer pharmaceutical and biotechnology corporation. The third MoU was signed between KAIMRC and the Ministry of Investment and AstraZeneca pharmaceutical and biotechnology company.

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