عربي English Türkçe اردو فارسى
Logo
Latest News
Business

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)
TT
TT

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.

Most Viewed

 
 
Business

Saudi Industry Ministry Concludes Ninth Licensing Round, with 24 Companies and Consortia Awarded 172 Mining Sites

Saudi Industry Ministry Concludes Ninth Licensing Round, with 24 Companies and Consortia Awarded 172 Mining Sites
TT
TT

Saudi Industry Ministry Concludes Ninth Licensing Round, with 24 Companies and Consortia Awarded 172 Mining Sites

Saudi Industry Ministry Concludes Ninth Licensing Round, with 24 Companies and Consortia Awarded 172 Mining Sites

The Saudi Ministry of Industry and Mineral Resources announced on Wednesday the names of 24 companies and consortia that have won licenses in the ninth exploration licensing round, the largest in the Kingdom’s history to date.

The winning entities were awarded 172 mining sites, including 76 sites that advanced to a multi-round public auction, across three mineralized belts in the regions of Riyadh, Madinah, and Qassim, with total committed exploration spend of over SAR671 million during the first two years of their work programs.

This milestone comes as part of the ministry’s ongoing efforts to accelerate mineral exploration and development in the Kingdom, in line with the objectives of Vision 2030, which positions the mining sector as the third pillar of the national industrial economy, said the ministry in a statement.

The ninth round offered over 24,000 km2, spanning the Ad-Duwaihi/Nabitah gold belt in Riyadh Region, as well as the Nuqrah and Sukhaybirah/As-Safra gold belts in Madinah and Qassim regions. These areas are rich in strategic minerals, including gold, copper, silver, zinc, and nickel. The round witnessed strong interest and high-quality competition from leading local and international companies, reflecting growing confidence in Saudi Arabia’s mining investment environment and its attractiveness at both regional and global levels.

The list of winning companies includes several leading international firms and prominent local companies, namely: Desert EX Pty Ltd Company; Batin Alard for Gold Company; Royal Roads Arabia Company; Sierra Nevada Gold Inc. Company; Aurum Global Group; Brunswick Exploration Incorporated; EQLEED-INDOTAN Mining Company; Helderberg Limited Company; Rawafed Alola for Mining Company; Saudi Gold Refinery Limited Company; Arabian Discovery Mining Company; Al Ghazal Al Arabi Mining Company; Almasar Minerals Holding Limited Company; Al Tasnim Enterprises LLC Company; Arabian Gulf Skylark. The Distinguished Consortium Mining Company, Two Limited Company; Maaden Ivanhoe Electric Exploration and Development Limited Company.

Several newly formed consortia also emerged winners in the licensing round, such as Demir Engineering Ltd, Dahrouge Geological Consulting Ltd, and Kaz United Mining LLC Consortium; KENZ Global Resources Ltd, and Manahil Al Sharq Mining and Al Rayyan Mining Resources Co. Consortium; Maaden Barrick Technology Experts Co. and Andiamo Exploration Ltd Company; Shandong Gold (Beijing) Industrial Investment Co., Ltd., Development Co., Ltd., and Ajlan & Bros Company for Mining; Midana Exploration Pty Ltd and Saudi Arabian Mining Company (Maaden) Consortium; and McEwen Mining Inc. and Sumou Holding Company Consortium.

The ninth round saw 26 qualified companies participate via the electronic bidding platform. The round was conducted in several stages with the highest levels of transparency: prequalification, site selection via the platform, and a multi-round public auction for sites attracting more than one bidder.

The ministry further noted that the scale of investment commitments in this round supports the development of underexplored greenfield areas and helps unlock the Kingdom’s estimated mineral wealth of SAR9.4 trillion, thereby strengthening the resilience of mineral supply chains.

The ministry confirmed that licensing will continue through the 10th round, spanning 13,000 km2 across Madinah, Makkah, Riyadh, Qassim, and Hail. It will include new sites that extend the mineralized belts offered in the ninth round.

The ministry will announce additional exploration and investment opportunities for 2026 at the fifth edition of the Future Minerals Forum (FMF), scheduled to take place in Riyadh from January 13 to 15.

These efforts are part of the Kingdom’s comprehensive strategy for the mining and mineral industries, aimed at maximizing the value of mineral resources, attracting global investment, creating jobs, enhancing value-chain integration, and reinforcing Saudi Arabia’s position as a global mining hub, in line with the ambitions of Vision 2030, it stressed.

Business

Expo 2030 Riyadh Awards the Main Utilities and Infrastructure Works Package

The milestone demonstrates the project’s increasing momentum as it shifts from early works to large-scale construction activity. (SPA)
The milestone demonstrates the project’s increasing momentum as it shifts from early works to large-scale construction activity. (SPA)
TT
TT

Expo 2030 Riyadh Awards the Main Utilities and Infrastructure Works Package

The milestone demonstrates the project’s increasing momentum as it shifts from early works to large-scale construction activity. (SPA)
The milestone demonstrates the project’s increasing momentum as it shifts from early works to large-scale construction activity. (SPA)

In a step aimed at advancing construction activities, Expo 2030 Riyadh awarded its Main Utilities and Civil Works package to Nesma and Partners - marking a significant moment in the journey to bring to life one of the most ambitious global mega-events ever developed.

The milestone demonstrates the project’s increasing momentum as it shifts from early works to large-scale construction activity.

In a statement on Wednesday, Expo 2030 Riyadh Company said the Main Utilities and Infrastructure Works package aims to prepare the site for subsequent construction phases and supports the operational requirements of the event itself.

The scope of work includes constructing roads within the Expo site and installing essential utilities that will form the infrastructure backbone of the entire development.

Around 50 kilometers of infrastructure networks will be delivered as part of this package – including water, sewage, EV charging stations, and electrical and communication systems. Together, these works are essential to support the next stages of master plan development and allow Expo 2030 Riyadh’s experience-defining structures to take shape.

CEO of Expo 2030 Riyadh Company Talal Al-Marri said: “This milestone marks an important step in accelerating construction activities in the Expo 2030 Riyadh site. By moving early on the infrastructure that underpins the entire site, we are creating the conditions for safe, coordinated, and high-quality delivery across all future phases of development, while ensuring a lasting legacy well beyond 2030.”

“The contract has been awarded ahead of schedule to accelerate the delivery timeline as part of a phased approach that will see construction across infrastructure, buildings, and public spaces advance steadily through 2026 and into early 2027,” he stressed.

President and Chief Executive Officer of Nesma and Partners Samer Abdul Samad said: “We are proud to be entrusted with delivering this phase of infrastructure for Expo 2030 Riyadh. This project is not only about scale, but also about precision, integration, and responsibility.”

“Our focus will be on delivering high-quality infrastructure that supports the ambition of Expo 2030 Riyadh and sets a strong foundation for everything that follows,” he added.

Expo 2030 Riyadh Company has embedded high standards for quality, sustainability, innovation, worker welfare, and health and safety into the delivery of the works, reinforcing its commitment to responsible construction and creating a safe, inclusive environment for everyone involved in the program.

Business

Saudi Arabia Closes 2025 with Historic Industrial Reform, Global Digital Leadership, Record-Breaking Economic Activity

As 2025 draws to a close, Saudi Arabia records a year defined not merely by statistical growth, but by structural transformation across every major sector. (SPA)
As 2025 draws to a close, Saudi Arabia records a year defined not merely by statistical growth, but by structural transformation across every major sector. (SPA)
TT
TT

Saudi Arabia Closes 2025 with Historic Industrial Reform, Global Digital Leadership, Record-Breaking Economic Activity

As 2025 draws to a close, Saudi Arabia records a year defined not merely by statistical growth, but by structural transformation across every major sector. (SPA)
As 2025 draws to a close, Saudi Arabia records a year defined not merely by statistical growth, but by structural transformation across every major sector. (SPA)

The second half of December marked a transformative conclusion to the year for Saudi Arabia, defined by a major policy shift to empower the industrial sector, world-class recognition in digital governance, and unprecedented levels of commercial and religious tourism activity.

Industrial empowerment and economic surge

In a decisive move to boost the competitiveness of the national industry, the Cabinet approved the cancellation of the expat levy for licensed industrial establishments. This decision builds on six years of exemptions that have already driven a 56% increase in industrial GDP to over SAR501 billion and a 74% rise in industrial employment.

Global leadership in tech and health

The Kingdom’s digital transformation strategy achieved a major milestone, ranking second globally in the World Bank’s GovTech Maturity Index with a score of 99.64%, placing it in the "very advanced" category.

In healthcare, the King Faisal Specialist Hospital and Research Center (KFSHRC) was ranked first in the Middle East for oncology and orthopedics and successfully pioneered a novel 3D-printing technique to treat inner ear disorders.

The period by numbers:

SAR30.7 billion: The record value of e-commerce sales in October 2025, marking a 68% annual increase.

68.7 million: The total number of worshippers and visitors received at the two holy mosques during the month of Jumada Al-Akhira.

8 million: The number of visitors to Riyadh Season 2025 since its launch in October.

32.3%: The year-on-year growth in non-oil exports for October 2025.

11.9 million: The number of Umrah performances completed in the month of Jumada Al-Akhira.

95 tons: The quantity of seasonal seeds stored by the Kingdom, setting a new Guinness World Record.

26: The number of awards won by Saudi students at the World Artificial Intelligence Competition for Youth (WAICY), taking 1st place globally.

$160 million: The total value of development loans signed with Mauritania for water and electricity projects.

158,000 tons: The volume of citrus production in the Kingdom as the new season launches.
.9%: The annual inflation rate in Saudi Arabia for November 2025.

12,000+: The number of industrial facilities now operating in the Kingdom, up from 8,822 in 2019.

2: The number of new Dark Sky Reserves accredited in AlUla (Sharaan and Wadi Nakhlah).

As 2025 draws to a close, Saudi Arabia records a year defined not merely by statistical growth, but by structural transformation across every major sector. From welcoming record numbers of tourists and pilgrims to securing top global rankings in digital governance and industrial competitiveness, the Kingdom has effectively translated strategic planning into tangible reality.

These milestones, spanning economic diversification, technological leadership, and international diplomacy, serve as cumulative evidence of a maturing ecosystem.

With every regulatory reform implemented and every global partnership secured this year, Saudi Arabia has done more than catalogue achievements; it has systematically narrowed the distance to its ultimate goals, moving one decisive year closer to the complete realization of Vision 2030.