Saudi Arabia launches National Biotechnology Strategy
13/02/24
Saudi Arabia recently launched its National Biotechnology Strategy with the aim of cementing the Kingdoms position as the MENA leader in this vital sector.
The country will establish a state of the art biotechnology hub that will drive innovation, job creation and economic growth. As a result, the strategy will aid the Kingdoms economic diversification and targets contributions worth 3%, equivalent of SAR 130 billion (USD 34.66 billion) to non oil gross domestic product (GDP). Furthermore, it closely aligns with Vision 2030 and aims to seize opportunities with the long term goal of Saudi Arabia becoming a global leader in biotechnology by 2040.
Most importantly, the National Biotechnology Strategy will utilise the Kingdom’s existing strengths including access to robust capital, large market and a continued government commitment. Furthermore, it aims to to advance its capabilities across four main biotechnology areas, which include vaccines, localised bio manufacturing, genomics and plant optimisation.
The Kingdom recognises the importance of vaccines and is committed to developing and localising vaccine manufacturing, which will increase the Kingdoms self sufficiency and contribute to the availability of life saving treatments. Genomics is a disruptive field and the next frontier of medicine and the strategy also contributes to strengthening food security and sustainable agricultural productivity through plant optimisation. By leveraging biotechnology, the Kingdom aims to increase sustainability, reduce reliance on food imports and enhance domestic production.
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