The Egyptian government launched on Tuesday the largest vaccine and serum production factory with investments of $150 million in the industrial zone of Sokhna inside the Suez Economic Zone. According to a press release from the Suez Economic Zone, "Chairman of the Authority Walid Jamal al-Din laid this morning the foundation stone for the GennVax project for vaccines and biological medicines, which is being established on an area of 50,000 square meters and is the largest factory in Egypt that possesses a complete manufacturing cycle for the production of vaccines and sera, and has obtained the golden license in appreciation of its strategic importance."During the ceremony, the Chairman of the Authority confirmed that the GennVax project "represents a qualitative leap in the path of localizing the medical and pharmaceutical industries in Egypt, with total investments amounting to $150 million."He explained that the factory "will operate according to the highest global quality standards to cover the production of 29 vaccines and sera to meet the needs of the local market, in addition to exporting to support regional markets, which enhances the state's ability to secure its needs of vital products."He pointed out that the project falls within the plan of the Suez Economic Zone for industrial localization and technology localization, aiming to reduce the import bill of vital products and enhance national health security, noting that the choice of the zone was not accidental, but came as a result of its unique geographical location, advanced infrastructure, logistical integration, and attractive investment incentives.Walid Jamal al-Din confirmed that the Suez Economic Zone has attracted investments worth $13 billion over the past three and a half years, distributed among 380 diverse projects in the industrial, logistical, and maritime sectors.Adam Ad-Dabb, CEO of GennVax, said that this project transforms Egypt from a consumer to a regional producer and exporter of vaccines, and that for Africa, these vital investments represent a step towards self-sufficiency, especially since the continent imports 99% of the vaccines used in it.
