US "Pfizer" company will open a factory for its pharmaceutical products in the Kingdom of Saudi Arabia during next year 2017 after Saudi Arabian General Investment Authority (SAGIA) has issued an investment license for the company allowing it to pump more investment in the pharmaceutical sector. A statement from the Authority said today that Pfizer company emphasized the shared commitment to the development of health care in the Kingdom and its intention to open a factory in King Abdullah Economic City in 2017 for the manufacturing of 16 kinds of leading medicines. In his statement, the Minister of Commerce and Investment who is the President of the Board of Directors of SAGIA, Dr. Majed bin Abdullah Al-Qasabi said that Pfizer is one of the major investors of international companies in the Kingdom of Saudi Arabia, and it obtained an investment license to operate in the field of trade and retail with an ownership of 100% contributing to the expansion of its activity to localize the pharmaceutical industry in the Kingdom in light of an effective partnership between the public and private sectors to achieve the development goals of the Kingdom of Saudi Arabia's Vision 2030. On this occasion, the President of Pfizer Group John Young expressed his happiness and delight that Pfizer became one of the first companies to obtain a commercial license, through the fast-track developed by Saudi Arabian General Investment Authority.
