Riyadh – Sharikat Mubasher: Four Saudi companies are currently exploring opportunities to produce pharmaceutical raw materials in Egypt, according to Gamal El-Leithy, Head of the Pharmaceutical Chamber of the Federation of Egyptian Industries.

Speaking to Asharq Business on the sidelines of the forum, El-Leithy noted: “There are already four Egyptian pharmaceutical factories operating in Saudi Arabia, and we expect another four to enter the Saudi market soon.”

The discussions are taking place as part of the Saudi-Egyptian Business Forum, held in Cairo from 12-14 April, where over 100 Saudi companies are seeking to forge partnerships in key sectors such as manufacturing, healthcare, and port infrastructure. The delegation is engaging with Egyptian ministers and local businesses to identify avenues for cooperation.

Egypt, the most populous Arab nation, imports nearly 90% of its pharmaceutical raw materials, making local production a strategic priority for the country.

Saudi Arabia’s private sector investments in Egypt reached approximately $35 billion as of October 2024, according to Saudi officials. On the other side, more than 5,000 Egyptian companies are currently operating in the Kingdom.

The talks signal a growing economic partnership between the two countries, especially in the high-impact healthcare and pharmaceutical sectors, as Egypt looks to reduce its reliance on imports and Saudi firms seek to expand their regional manufacturing footprint.