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Government developing special enclave for pharmaceutical companies



Business News of Sunday, 9 December 2018

Source: 3news.com

Alan Kyerematen AwardedAlan Kyerematen was honoured for his support to the pharmaceutical industry

Government has announced it is developing a dedicated enclave at Ejisu in the Ashanti Region to serve as a pharmaceutical hub in Ghana as government set out to ensure that at least 10 local pharmaceutical companies to provide world class standards.

The enclave, according to the Ministry of Trade and Industry, will be a part of the 5000-acre Greater Accra-Kumasi Industrial City and Special Economic Zone near Ejisu.

Minister for Trade and Industry Alan Kyerematen said this explained the project “will significantly offer opportunities for the sector to become competitive”.

He was speaking at the maiden ball for the West African Postgraduate College of Pharmacists and the Ghana College of Pharmacists in Accra.

In addition to the enclave project, he said “the Ministry in collaboration with the Ghana EXIM Bank and some Commercial Banks is offering Medium Term Credit support under very favourable conditions to pharmaceutical companies in the country”.

Ghana’s pharmaceutical industry provides about 30 per cent of the country’s needs, something the Minister said shows the potential of the industry.

In view of the great potentials, he said the government has put a lot of measures in place to further boost the industry.

Some of these measures include exemption of Customs duties on raw and packaging materials for pharmaceutical production, with about 500 individual pharmaceutical items exempted from Value Added Tax.

All these measures Mr. Kyerematen noted, is aimed at making pharmaceutical manufacturing favourable in Ghana in order to attract investors into the country to further boost the industry.

He said government will continue to support the industry towards realising its vision of ensuring that at least 10 pharmaceutical companies in Ghana meet world class standards of good pharmaceutical practices.

Mr. Kyerematen also called on industry persons to make use of collaborations among themselves in order to make the industry thrive.

The Colleges of Pharmacists used the opportunity to honour the Trade and Industry Minister with a certificate for his dedicated commitment and support to the industry.

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