Saudi Arabia’s Ministry of Investment (MISA) has signed a Memorandum of Understanding (MoU) with Swiss multinational healthcare company Roche’s subsidiary, Roche Products Saudi Arabia (RPSA), in order to initiate projects to develop the healthcare and life sciences sector in the Kingdom.
Under the MoU, RPSA will collaborate with MISA to support the industry’s growth potential by promoting investment opportunities. Furthermore, it intends to develop policy and regulation, and improve healthcare delivery in the kingdom by forming public-private partnerships with organizations across the life sciences ecosystem.
During the signing ceremony, MISA and RPSA have shared insight on the strategic goals behind the new collaboration and, commented how the MoU will target the biotech and pharmaceutical production, research and development, health care, and diagnostics offerings of Saudi Arabia.
A range of initiatives are already underway as part of their new partnership, including a policy alliance to improve the kingdom’s customized healthcare and clinical trials environments and unlock their investment potential. Besides, RPSA aims to introduce a range of educational programs under the MoU, including a graduate program and on-site professional training at their facilities across the country.
“Saudi Arabia’s nascent biotechnology and life science industries will play a central role in driving our post-pandemic economic recovery. The Ministry of Investment is enabling these critical sectors of tomorrow through launching regulation that is designed to attract investment which harnesses and develops their untapped growth potential. We look forward to collaborating closely with RPSA as part of this new strategic partnership to harness their world-leading expertise, develop the long-term capacity of our national healthcare landscape, and enable Saudi Arabia’s continued economic transformation through Vision 2030.”
Dr. Abdulrahman Sabra, General Manager of Roche Products Saudi Arabia said, “Today we celebrate our partnership with MISA, a valuable alliance that will enable us to continue in our journey to serve patients across the kingdom. As a multinational pharmaceutical company, our innovation, cutting-edge technologies and personalized approach to healthcare are the cornerstones that support us on our mission.”
“We acknowledge the importance of having public-private partnerships, and we believe that this will be an integral part in collaborating with the authorities towards their commitment to enhancing the healthcare ecosystem in Saudi Arabia and the realization of the kingdom’s Vision 2030,” added Dr. Sabra.