SAUDI ARABIA

British businessmen express interest in investing in Saudi food and drugs market

May 23, 2022

RIYADH — Dr. Hisham bin Saad Aljadhey, CEO of the Saudi Food and Drug Authority (SFDA), has met a number of CEOs of British companies, businessmen and representatives of the private sector during his recent official visit to the United Kingdom.

During the visit, discussions went over the challenges and obstacles that investors may face in the food, drug, and medical devices and products sectors, as well as the initiatives provided by the SFDA to facilitate procedures for investors, and work to remove all obstacles that may hinder the work of facilities, in line with the Kingdom's Vision 2030.

SFDA stressed the importance of attracting investments in the pharmaceutical sector by enhancing intellectual property protection for innovative pharmaceutical products, increasing the level of transparency in registration procedures, enhancing the level of confidence in intellectual property protection procedures, and working to increase the number of innovative international companies that fully manufacture many of their products in local factories, or factories established by those companies in Saudi Arabia.

Within the same context, SFDA’s CEO also met with the UK Minister for International Trade Ranil Jayawardena.

The two sides stressed that they will exert every effort to enhance cooperation in the fields of food and drugs, based on the deep-rooted relations between the two countries. — SPA


May 23, 2022
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