Saudi Arabia has signed two Memorandums of Understanding (MoUs) with COVID-19 vaccine makers Pfizer and AstraZeneca to promote investment in the Kingdom’s health sector, the Saudi Press Agency (SPA) reported on Wednesday.
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The Ministry of Investment, in partnership with the Ministry of National Guard Health Affairs, signed an agreement with the British-Swedish pharmaceutical company AstraZeneca to establish world-class clinical research centers in the country.
Minister of Investment Khalid bin Abdulaziz al-Falih said that the MoU will strengthen the partnership between local and international biotechnology companies, according to a statement issued by the ministry.
The King Abdullah International Medical Research Center (KAIMRC), which falls under the Ministry of National Guard Health Affairs, also signed an MoU to build a platform for the research and development of vaccines to support national and regional public health needs.
The agreements were signed on the sidelines of the Riyadh Global Medical Biotechnology Summit 2021, which is being held in the Kingdom’s capital from September 14 to 16.
The summit is bringing together biomedical and health research experts, as well as pharmaceutical and biotechnology industry experts to discuss the role of biotechnology in developing medical solutions.