Saudi Arabia’s PIF establishes ‘Badael’ to reduce smoking prevalence in the Kingdom

The Public Investment Fund (PIF) announced on Thursday the establishment of ‘Badael,’ a company that aims to develop, manufacture, and distribute tobacco-free products to help reduce the prevalence of smoking in Saudi Arabia.

The products, which aim to promote healthier lifestyles by providing less harmful alternatives, align with the Kingdom’s Vision 2030 plan to improve the quality of life of citizens and residents.

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According to the World Health Organization, an estimated 70,000 people die of smoking-related diseases yearly in Saudi Arabia alone.

Smoking increases the risk of cancer, heart disease, stroke, lung disease, diabetes, and various other health issues.

The PIF said that tobacco-free nicotine products will be available across Saudi Arabia by the end of 2023, adding that it aims to expand its reach to regional and international markets in the longer term.

Badael products are expected to help nearly one million people switch from smoking by 2032 – approximately 25 percent of all smokers in Saudi Arabia, the Saudi Press Agency (SPA) reported.

Providing people with tobacco-free alternatives has the potential to save over $1.59 billion on healthcare expenditures by 2023.

According to SPA, this can potentially deliver direct annual savings of more than SAR 6 billion on healthcare expenditure by 2032.

Badael will also aim to deliver on PIF’s localization by supporting domestic manufacturing, sourcing raw materials, knowledge transfer, and the development of intellectual property (IP), SPA reported.

The company’s products will be manufactured entirely in Saudi Arabia, ensuring the highest product quality and safety through best-in-class practices.

Establishing Badael will provide new economic opportunities and create thousands of jobs as the company partners with the local private sector and world-class global partners.

Since 2017, PIF has established 77 companies and created more than half a million direct and indirect jobs.

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