In a strategic move aimed at enhancing health security and achieving the goals of the Kingdom's Vision 2030, His Excellency the Minister of Industry and Mineral Resources, Mr. Bandar bin Ibrahim Al-Khorayef, held a series of important meetings in Lyon, France, with leading global pharmaceutical companies. Discussions focused on exploring opportunities to localize the manufacturing of vaccines and biopharmaceuticals, and to transfer advanced technologies to the Kingdom.
Strategic background: Vision 2030 and health security
This visit comes within the framework of Saudi Arabia’s broader strategy, which prioritizes diversifying the national economy. The National Industrial Strategy, launched as part of Vision 2030, is the driving force behind these efforts, aiming to build an advanced and sustainable industrial base. The pharmaceutical and biotechnology sector has emerged as a vital and high-priority sector, particularly after the lessons learned from the COVID-19 pandemic, which underscored the importance of achieving self-sufficiency in biomedical products to ensure the stability of national healthcare systems.
Productive talks with Sanofi and Penta Group
Minister Al-Khorayef met with Mr. Thomas Triumph, Executive Vice President and Head of Vaccines at Sanofi, to discuss ways to enhance joint industrial cooperation. The meeting included a detailed presentation on Sanofi's strategies for manufacturing vaccines and biopharmaceuticals, as well as its significant investments in research and development. His Excellency also toured the company's industrial facilities, observing all stages of production, from the development of active ingredients and packaging to the rigorous quality control systems that ensure product quality and safety.
In a related development, the Minister visited the headquarters of Benta Group in Lyon, where he was received by the Chairman and CEO, Mr. Bernard Tannoury. Al-Khorayef was briefed on the Group's history and development in the French and global markets, and discussed with its leadership potential partnerships for investment in the promising Saudi market.
The importance and expected impact of partnerships
These discussions are of paramount importance on several levels:
- Locally: The localization of these industries aims to enhance the Kingdom’s pharmaceutical security, reduce dependence on imports, provide quality job opportunities for national talents, and build local capabilities in the field of pharmaceutical research and development.
- Regionally: Through these partnerships, the Kingdom seeks to consolidate its position as a leading regional hub in the pharmaceutical and biotechnology industries, enabling it to meet the needs of the region's markets.
- Internationally: These efforts reflect the Kingdom’s commitment to strengthening its economic partnerships with major industrial powers such as France, attracting quality foreign investments that contribute to the transfer of knowledge and technology, and integrating the Saudi economy into global value chains.
This tour is a pivotal step within the Minister’s official visit to France, which aims to build bridges of industrial cooperation and attract investments that support the Kingdom’s ambitions to become a leading global industrial power.
