Egypt.. Details of the inauguration of the largest factory for the production of vaccines and serums

Today, Tuesday, the Egyptian government inaugurated the largest factory for the production of vaccines and serums, with investments of $150 million, in the Sokhna Industrial Zone within the Suez Canal Economic Zone.

The General Authority for the Suez Canal Economic Zone said in a press statement: “The Chairman of the Authority, Walid Gamal El-Din, witnessed this morning the laying of the foundation stone for the GENNVAX project for vaccines and biological medicines (GENNVAX), which is being built on an area of ​​50 thousand square meters and is considered the largest factory in Egypt that has a complete manufacturing cycle for the production of vaccines and serums. It has obtained a golden license in recognition of its strategic importance.”

During the celebration, the head of the authority confirmed that the Genevax project “represents a qualitative leap in the process of localizing the medical and pharmaceutical industries in Egypt, with a total investment amounting to 150 million US dollars.”

He explained that the factory “will operate according to the highest international quality standards, covering the production of 29 vaccines and serums, to meet the needs of the local market, in addition to exports to support regional markets, thus enhancing the country’s ability to secure its needs for vital products.”

He pointed out that the project falls within the Suez Canal Economic Zone plan for industrial localization and localization of technology, with the aim of reducing the import bill for vital products and enhancing national health security, pointing out that the selection of the region was not a coincidence, but rather came as a result of its unique geographical location, advanced infrastructure, logistical integration, and attractive investment incentives.

Walid Gamal El-Din confirmed that the Suez Canal Economic Zone succeeded during the past three and a half years in attracting investments worth $13 billion, distributed among 380 diverse projects between the industrial, logistical and maritime sectors.

Adam El-Dabaa, CEO of Genvax, said that this project transforms Egypt from a consumer into a regional producer and exporter of vaccines, and for Africa, this vital investment represents a step towards self-sufficiency, especially since the continent imports approximately 99% of the vaccines used in it.