SAO PAULO — The Minister of Industry and Mineral Resources Bandar Al-Khorayef has confirmed that the pharmaceutical and medical industries sector is one of the most promising sectors that contribute to health security and strengthen Saudi Arabia's independence in the field. The minister made the remarks during his visit to the Brazilian Butantan Institute, which is a global leader in developing vaccines and producing pharmaceutical and biopharmaceuticals. Al-Khorayef explained that Brazil is prepared to partner with Saudi Arabia in all industrial sectors targeted by the national industrial strategy, including the pharmaceutical and vaccine industry. He also stressed the importance of benefiting from the strengths of both sides, especially in developing supply chains, enhancing technological exchange, and driving innovation, to achieve sustainable development and economic flexibility. The ministry was also concerned with the growth of local content and the localization of the latest medical technologies, in addition to attracting foreign investments to the healthcare sector. The Vaccines and Pharmaceuticals Industry Committee also aims to build local industrial platforms with international specifications in order to enable Saudi Arabia to assume its natural place as an industrial power and a logistical platform for vaccines and vital medicines in the region, the Middle East, and the Islamic world. In June 2022, many investment opportunities in the vaccine and biopharmaceutical industry with a value exceeding SR11 billion were offered to achieve Saudi Arabia's directions aimed at achieving pharmaceutical and health security, the minister said. The Butantan Institute, which was founded in 1901 in the Brazilian city of São Paulo, is one of the largest producers of vaccines in Latin America, as it provides basic vaccines to protect the population from infectious diseases. It also played a pivotal role in developing and producing the Corona vaccine against Covid-19.
