Saudi Crown Prince launches National Biotechnology Strategy

Saudi Crown Prince launches National Biotechnology Strategy

RIYADH — Crown Prince and Prime Minister Mohammed bin Salman has launched on Thursday the National Biotechnology Strategy as a comprehensive roadmap designed to enhance Saudi Arabia’s position as a leader in this vital sector.

Through the successful implementation of this strategy, the Kingdom will establish a leading biotechnology hub that drives innovation, job creation, and economic growth, and thus helping to deliver economic diversification. The strategy aims to contribute three percent, amounting to SR130 billion, to the non-oil gross domestic product (GDP), in addition to generating thousands of quality opportunities and jobs by 2040. This strategy marks a significant milestone for Saudi Arabia in becoming a major player in the regional and global biotechnology sector.

Tipped to be a significant move towards achieving Vision 2030, the strategy is a key enabler that will strengthen national health resilience and promote growth in the fast-growing biotechnology sector. A document was released on Thursday that outlines the vision for what is possible with the power of biotechnology and the steps that will be taken to harness its potential.

The strategy works to address challenges and seize opportunities in a rapidly growing sector, serving as a roadmap for becoming a global leader in biotechnology by 2040.