Riyadh-His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and prime minister, has launched the national strategy for Biotechnology.
It aims to improve national health, raise the quality of life, protect the environment, achieve food and water security, maximize economic opportunities and localize promising industries. Promote economic growth, create quality jobs and investments that contribute to the development of new industries, while providing a more sustainable environment
The strategy represents a comprehensive roadmap for the kingdom to become a global biotechnology hub by 2040.
It focuses on four strategic directions, namely:
Localizing and exporting the vaccine industry and leading innovation in it, pioneering genomics and gene therapy research, and innovation in the field of improved seeds.
The strategy works to empower the local industry in the field of biotechnology by facilitating regulatory requirements, providing appropriate infrastructure and financing, and the strategy will contribute with its many programs and initiatives to stimulate efforts to find opportunities for private investors in this field.
Through the national strategy for Biotechnology, the kingdom aspires to achieve leadership in the biotechnology sector in the Middle East and North Africa by 2030, and leadership at the international level by 2040, and the strategy targets by 2040 that the sector will contribute 3% to the non-oil GDP, with a total total impact of 130 billion riyals, in addition to providing thousands of opportunities and quality jobs.