Riyadh – Sharikat Mubasher: Major pharmaceutical companies are currently mulling the establishment of new factories in Saudi Arabia.

Ali Ouf, Head of the Pharmaceuticals Division at the Federation of Chambers of Commerce Ali Ouf stated that multiple Egyptian companies working in the drug manufacturing industry showed interest in expanding in Saudi Arabia due to the great facilities provided by the government for foreign investors encouraging their presence in Saudi Arabia, according to Asharq Business.

Gamal El Lithy, Head of the Pharmaceutical Chamber of the Federation of Egyptian Industries also stated that two companies already obtained operating licenses to start construction works for their new pharmaceutical factories in the Kingdom.

Worth mentioning that The Kingdom of Saudi Arabia has recently issued the updated Investment Law that seeks to to develop and enhance the competitiveness of the investment environment in the KSA, contribute to economic development, and create job opportunities by providing an attractive investment climate.