PIF has launched a new company Badael to reduce the number of smokers in Saudi Arabia

A new business has been established by the Public Investment Fund (PIF) with the goal of lowering the smoking rate in Saudi Arabia

By the end of 2023, the Badael firm will make its tobacco-free nicotine delivery solutions available across Saudi Arabia. Long-term expansion of its market reach into regional and global markets is a goal.

By 2032, the company's products should have assisted about a million smokers—or around 25% of Saudi Arabia's total smoker population—in quitting. By 2032, this might result in direct healthcare spending reductions of more than SR6 billion annually.

In advance of the World Health Organization's (WHO) World No Tobacco Day on May 31, PIF announced on Thursday that Badael Company (Badael) had been founded. Badael aims to develop, produce, and distribute cutting-edge products that aim to lower smoking prevalence and promote healthier lifestyles by providing tobacco-free and less harmful alternatives.

The programme fits in with Saudi Arabia's emphasis on raising the standard of living for its people.

The detrimental effects that smoking has on the population of Saudi Arabia are something that Badael seeks to alleviate.

By promoting domestic production, sourcing raw materials, knowledge transfer, and the growth of intellectual property (IP), it will also try to fulfil the PIF's localization mandate.

The company's goods will be produced in Saudi Arabia, where best-in-class procedures will guarantee the highest levels of product quality and safety. By collaborating with the local business sector and top-tier international partners, Badael seeks to create new economic prospects and jobs.

The goal of Badael is to reduce smoking and carry out PIF's policy to enhance everyone's quality of life. This initiative is a part of Saudi Arabia's wider initiatives to diversify its economy, localise its manufacturing, and promote both job growth and economic reform.

PIF has founded 77 businesses since 2017 and added more than 500,000 direct and indirect employment.