Saudi Arabia 2017 | INDUSTRY & MINING | COLUMN

TBY talks to Mohammed Saud Al Badr, Managing Director, Saudi Chemical, on the sector.

Mohammed Saud Al Badr

What was the decision behind listing the company?

The company was listed in order to stabilize the business. When a company is listed, it becomes more transparent and adheres to corporate governance. Therefore, we made the decision in order to stabilize our operation; it is not linked to individuals. The company has a great deal of potential, such as in the manufacturing of explosives. It has the opportunity to expand its presence in more geographical areas. In addition, defense manufacturing, especially on the explosives side, is an area that can expand locally as well as in other geographical areas. We have a presence in Gulf countries and certain African countries at the moment. For pharmaceutical manufacturing, we look at the European market. We started in the Gulf before expanding into the European and American markets.

How important is the pharmaceutical industry for growth in Saudi Arabia?

Developing manufacturing capabilities in Saudi Arabia is hugely important. Also, it can be a source of income for the Saudi market. When we have a factory that manufactures for the country, it can be a source of diversification for the economy. It is important to find the right process for this.