Expanding the production of human and veterinary vaccines is among the main objectives of Egypt’s VACSERA in its agreement with the United Arab Emirates-based Al Qalaa Investments and China’s Red Flag.
A memorandum of understanding has been signed between the three parties, Egypt’s Ministry of Health has announced, according to the Daily News Egypt.
The signing was led by each party’s chief executive officers, Sherif El-Fil for VACSERAM, Ashraf El-Badawy for Al Qalaa Investments, and Li Yang for Red Flag.
The UAE is home to the national investment organisation Al Qalaa Investments, with more than 700 staff and maintains branch offices in Egypt, Germany, the United States, and India.
Boosting vaccine production
Aside from the expansion of human and veterinary vaccines, the agreement also aims to develop plasma-derived therapies.
Moreover, to assure self-sufficiency in essential vaccines and plasma-based products, the agreement seeks to establish Egypt as a regional powerhouse for vaccine production and exports, with the focus on African and Arab markets.
Along with creating new export opportunities, El-Fil highlighted that the move will secure the local supply of safe and effective vaccines.
VACSERA welcomed the opportunity to expand the capacity of the company to produce biopharmaceuticals, as well as processing plasma.
El-Fil also noted that it will further solidify its position as a major regional participant in the vaccine sector.
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Egypt’s Vision 2030
In line with Egypt’s Vision 2030 sustainable development framework, the deal backs the country’s national plan to draw in foreign investment, as well as localising biotechnology companies, and promoting scientific research and innovation, said Egypt’s Health Ministry spokesperson Hossam Abdel Ghaffar.
El-Fil emphasised that the agreement was recognised as a major move in bringing cutting-edge vaccine manufacturing technologies to his country.
According to Egypt’s National Agenda for Sustainable Development, “Egypt’s Vision 2030 seeks to improve the living standards of all segments of society by ensuring access to quality education, training, and skill refinement necessary for future job prospects grounded in scientific research and innovation, along with providing adequate health.”
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