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AMMAN — Jordan's Ram Pharmaceutical Industries and Saudi Arabia's Cigalah Healthcare on Thursday launched an investment partnership aimed at boosting value-added investment in Jordan and expanding Jordanian-Saudi economic cooperation.
Minister of Investment Tareq Abu Ghazaleh said Jordanian-Saudi relations are a model of deep-rooted ties, adding that the partnership reflects the strength of economic relations between the two countries and the confidence shared by private-sector institutions.
He noted the partnership as an important step towards greater Arab economic integration and cooperation in one of the region's most strategic sectors, according to a Ministry of Investment statement.
"Investment in pharmaceuticals and healthcare is an investment in people, quality of life and the ability of societies to withstand challenges and crises," Abu Ghazaleh said, noting that an advanced pharmaceutical industry has become a strategic necessity for health security and national and economic resilience.
He said Jordan has built a "solid" pharmaceutical manufacturing sector over several decades, with locally produced medicines reaching dozens of regional and international markets.
The government places particular emphasis on value-added industries, especially pharmaceuticals, as key drivers of sustainable economic growth and quality employment for the Economic Modernisation Vision, he added.
Abu Ghazaleh said the partnership demonstrates confidence in Jordan's investment environment, citing the Kingdom's modern legislative framework, competitive advantages, skilled workforce, advanced infrastructure and access to regional and global markets.
The Minister expressed that this partnership would serve as a model for further Arab investment partnerships and deeper regional economic integration.
The initiative comes amid growing regional and international interest in the pharmaceutical industry as a strategic sector that supports health security, strengthens supply chains, facilitates knowledge and technology transfer and promotes exports and job creation.
The partnership brings together two leading companies in the pharmaceutical and healthcare sectors, both of which have established a strong presence in Arab and international markets, according to the Ministry of Invetsment statement.
