In a dramatic policy change, Saudi officials have temporarily granted non-Saudis the right to own and run pharmacies, subject to the adoption of a new health code. The move is a major departure from the kingdom’s regulations, which have long reserved pharmacy ownership for Saudi nationals.
Under this short-term policy, officials aim to provide seamless pharmaceutical services and meet the increased healthcare needs of the population. The upcoming health code will be introducing new regulations, such as updated licensing requirements and more stringent compliance measures for all pharmacy proprietors, including foreigners.
Although foreign investors and experts view this as a chance to contribute to the sector, other industry experts expect it to last only for the short term. The Ministry of Health has made a statement ensuring the public that once the new health code takes effect, regulation of ownership would be reevaluated to respond to national policy and economic purposes.
The action is closely watched by healthcare stakeholders and pharmacy operators since it may pave the way for additional foreign investment in the Saudi healthcare industry. For now, until the new laws come into effect, non-Saudis may capitalize on this chance to set up and operate pharmacies based on the prevailing laws.
