(Yicai Global) Oct. 11 -- General Healthy Information and Technology, a Chinese drug platform supplier, will team with Ajlan & Bros Holding Group, a Saudi Arabian conglomerate, to create a smart pharmacy in the Middle East and North Africa as the latter's third joint venture with a Chinese firm this year.

The pair will integrate their industrial and strategic resources and form a JV in Riyadh, Saudi Arabia, to lay a foundation for the transformation of local medical services, the Shanghai-based medical management company said in a press release yesterday.

Before this, the clothing retailer teamed up with logistics giant S.F. Holding and Chifeng Jilong Gold Mining earlier this year to bring Chinese logistics and mining services to the ME.

Leading Chinese companies are increasingly eyeing ME and North African markets for opportunities after Saudi Arabia revealed its strategic framework Saudi Vision 2030 to reduce its reliance on oil while further developing sectors such as healthcare, education, and tourism.

"We are honored to partner with General Healthy to bring China's advanced smart pharmacy solutions to Saudi Arabia and the MENA region," said Ajlan Mohammed Al Ajlan, deputy chief executive. "This is a major step for us to fully support Saudi Vision 2030 in the pharmaceutical sector, and we believe that there are huge opportunities for our new JV."

Ajlan & Bros, owned by the Al-Ajlan family, is engaged in sectors including financial services, manufacturing, healthcare, and education. The group ranks 34th in the 2021 Forbes' top 100 family businesses in the ME.

Editor: Emmi Laine, Xiao Yi