On November 7, 2023, Jielun ZHU, the Chief Financial Officer and Chief Investment Officer of Fapon Group, had an in-depth discussion with Mr. Qinsheng XIE, the Minister-counselor of the Economic and Commercial Counselor’s Office of the Embassy of the People’s Republic of China in the Kingdom of Saudi Arabia. The meeting focussed on pertinent topics such as local economic policies, regulations concerning medical products and drugs as well as prospective collaborations with local partners in biomedicine.
Mr. Jielun stated that as a leading life sciences organization, Fapon Group is committed to discovering and innovating in the fields of in-vitro diagnostics (IVD), biopharma and AI-enabled therapeutics. China and Saudi Arabia share complementary strengths in the field of IVD and biomedicine. We hope that by leveraging its expertise, Fapon can join forces with local partners to build a platform-ecosystem for biomedicine in the future. Such a move will not only elevate the healthcare sector in Saudi Arabia but also have a positive impact on local communities and individuals.
Mr. Qinsheng welcomed Fapon's entry into the Saudi Arabia market, acknowledging that the potential of biomedicine is immense. The collaboration between Fapon and Saudi Arabian companies will present an opportunity to fuel the development of Saudi Arabia's healthcare sector. Mr. Qinsheng is looking forward to seeing the next phase of this collaboration.
In the future, there will be further discussions between the two sides to determine the specific projects for collaboration. Additionally, effective communication mechanisms will be established to facilitate technical exchanges and foster commercial collaboration in the healthcare sector among companies from both countries.