Crown Prince Mohammed bin Salman, the Saudi Prime Minister, has launched the "National Biotechnology Strategy," aimed at enhancing the Kingdom's position as a leading country in the sector. Saudi Arabia seeks to develop its biotechnology sector, which includes vaccines, biopharmaceuticals, and genomic research, targeting a contribution of 3% to the non-oil GDP by 2040, with a total economic impact of 130 billion riyals (35 billion dollars).
The biotechnology sector represents a significant growth area with high potential in Saudi Arabia, expected to create over 11,000 high-quality job opportunities by 2030. The strategy will focus on developing the biotechnology sector, unifying efforts to seize promising economic opportunities, enhancing the health and quality of life for the population, protecting the environment, achieving food and water security, maximizing economic opportunities, and localizing promising industries, thereby contributing to the goals of "Saudi Vision 2030."
The "National Biotechnology Strategy" aims to address challenges and seize opportunities in this rapidly growing sector and represents a comprehensive roadmap for the Kingdom to become a global biotechnology hub by 2040. Saudi Arabia has the largest biopharmaceutical market in the region, valued at over 1.3 billion dollars.
### Four Strategic Directions
The strategy targets the stimulation of growth in the biotechnology sector in the Kingdom and achieving global leadership in this area according to four core strategic directions:
1. **Vaccines**: It is expected that Saudi Arabia will become one of the top three vaccine-exporting countries in the MENA region by 2040.
2. **Biomanufacturing and Localization**:
3. **Genomics**: The Kingdom has significant potential to advance in cutting-edge research and development in this field and improve plant cultivation for self-sufficiency.
4. **Sustainable Agriculture and Clean Biotechnology**: These can help make the Kingdom more sustainable and achieve its targets related to net-zero emissions.
### Opportunities for the Private Sector
The national strategy offers unique investment opportunities for the private sector, allowing entrepreneurs and investors to participate in biotechnology projects and support the development of innovative solutions that enhance quality of life. It also aims to develop local talents and attract foreign expertise to boost growth and innovation. Furthermore, it seeks to unify efforts, eliminate barriers, and unleash potentials related to various activities and processes in this sector at all levels.
Thus, the Kingdom will lead the global biotechnology sector as a significant investor, benefiting from flexible frameworks that commit to innovation, research, and development, while leveraging the strength of its economy and the aspirations of its youth.
