Can top-down strategy build a Gulf innovation hub?

The Gulf's leaders have spent years promising to diversify their economies beyond oil. Pharmaceuticals and biotechnology now stand near the top of that agenda, positioned as strategic industries that promise health security, jobs and prestige.

Guided by the Vision 2030 blueprint, Saudi Arabia and the United Arab Emirates have taken the lead in this initiative, pouring billions into biomanufacturing plants, clinical trial hubs and innovation programs that they hope will set the region apart.

The Saudi-led plan frames the sector as a pillar of diversification, with the National Biotechnology Strategy seeking to make the kingdom a global biotech contender by 2040. Meanwhile, the UAE, through its Operation 300bn plan, has earmarked pharmaceuticals as a key industrial sector.