Saudi ministers highlight investment prospects in food and pharmaceuticals, emphasizing the use of industry 4.0 technologies during official visit to Egypt

A high-profile visit by Saudi ministers to Egypt has underscored the growing importance of industrial and pharmaceutical cooperation between the two nations. Led by Saudi Arabia’s Minister of Industry, Bandar Alkhorayef, the delegation aimed to explore new investment opportunities in the pharmaceutical and food sectors, in line with the Kingdom’s industrial strategy.

The visit, which took place on December 15, saw prominent officials, including Deputy Minister Khalil bin Salamah and executives from key industrial bodies, engage in talks with Egyptian officials and private sector leaders. The focus was on leveraging the strengths of both countries in food and pharmaceutical manufacturing to foster deeper collaboration.

A highlight of the trip was a tour of Almarai’s “Beyti” factory in Beheira Governorate, which demonstrated the local development role of Saudi firms and the potential for greater supply chain integration. Alkhorayef’s discussions also included the application of Industry 4.0 technologies to enhance productivity in both countries’ industrial sectors.

The pharmaceutical sector received particular attention, with meetings held with senior executives from Egypt’s pharmaceutical giants, including Minapharm and Eva Pharma. Talks revolved around localizing medical production in Saudi Arabia, expanding biopharmaceutical collaboration, and improving generic drug manufacturing, including veterinary vaccines.

Additionally, discussions with Medical Union Pharma focused on integrating active pharmaceutical ingredients into the Saudi market, with an emphasis on both chemical and biological components. There was also a significant focus on enhancing trade in frozen and packaged fruits and vegetables through the British Egyptian Co. for General Development (Galina).

The visit reflects the growing economic relationship between Saudi Arabia and Egypt. In 2023, Saudi Arabia’s non-oil exports to Egypt amounted to $2.6 billion, with non-oil imports from Egypt at $2.5 billion. The trip solidified the commitment to further strengthening strategic ties, particularly in the industrial and pharmaceutical sectors, and highlighted mutual efforts to harness emerging technologies for increased productivity.