Riyadh, January 25, 2024, In a significant step toward achieving Vision 2030, Crown Prince Mohammed bin Salman has launched the National Biotechnology Strategy, aiming to position Saudi Arabia as a global leader in the sector. The strategy is designed to enhance the Kingdom's health resilience, foster growth in the biotechnology sector, and contribute to economic diversification.
The National Biotechnology Strategy serves as a roadmap, addressing challenges and seizing opportunities in a rapidly growing sector. By 2040, the strategy aims to make Saudi Arabia a global leader in biotechnology. It focuses on improving the health and well-being of citizens, stimulating economic growth, creating skilled job opportunities, attracting investments, promoting a sustainable environment, and contributing to Vision 2030.
The strategy leverages the Kingdom's existing strengths, such as access to robust capital, a large market, government commitment, and a unique gene pool, to advance capabilities in four strategic plays: vaccines, bio-manufacturing & localization, genomics, and plant optimization.
Vaccines are a key focus, with the strategy committing to developing innovative vaccine technologies and localizing vaccine manufacturing to increase self-sufficiency. Bio-manufacturing plays a vital role in establishing Saudi Arabia as the primary biotechnology hub in the MENA region. Genomics is highlighted as a disruptive field with the Kingdom aspiring to become the leading genomics player in MENA. Additionally, plant optimization aims to enhance food security and sustainable agricultural productivity.
The strategy aims to address barriers across talent, regulation, funding, and infrastructure to create a mature and functional biotechnology ecosystem. Through a robust pipeline of programs and initiatives, the strategy plans to catalyze the growth of Saudi Arabia's biotechnology sector, contributing 3% of non-oil real GDP by 2040. The successful implementation of this strategy is expected to establish Saudi Arabia as a leading biotechnology hub, driving innovation, job creation, and economic growth.
