The ministerial committee convened to discuss the localization of domestic pharmaceutical industries.

The ministerial committee dedicated to the localization of local pharmaceutical industries convened today in Aden, the temporary capital of Yemen. The meeting took place under the leadership of Dr. Qasim Bahibeh, Minister of Public Health and Population.

Key Attendees and Discussions

The meeting included participation from Dr. Mohammed Al-Ashoul, Minister of Industry and Trade, as well as representatives from the General Investment Authority, and officials from the Ministries of Finance, Legal Affairs, Water and Environment, and the General Secretariat of the Cabinet. The committee reviewed updates from the technical committee, focusing on recommendations for various topics. These topics included simplifying customs and tax exemption procedures, establishing a one-stop-shop system to streamline processes, extending exemption periods to ten years, and implementing the Investment Law of 2010 with necessary amendments.

Importance of Local Pharmaceutical Production

During the discussions, the committee emphasized the significance of localizing pharmaceutical industries. They highlighted the connection between localization, investment, and competitiveness, as well as strategies to reduce production costs. The committee examined the status of current factories, ongoing projects, and the challenges they face.

Review of Strategic Plans

The committee conducted an in-depth review of the strategy and action plan aimed at encouraging the localization of local pharmaceutical industries. They stressed the need to enrich these plans and present them in an effective manner. Furthermore, they reaffirmed the ongoing work of both the ministerial and technical committees to complete their remaining tasks and submit their findings to the Cabinet for approval.

Call for Investment

Dr. Ali Jarhum, Head of the General Investment Authority, along with the Ministers of Public Health and Industry, urged local and regional investors to explore opportunities in various sectors, particularly in pharmaceutical and food industries. They assured investors of the necessary support from the government, emphasizing that favorable conditions for investment exist within the country.

This meeting marks a significant step towards enhancing the pharmaceutical sector in Yemen, aiming to bolster local production capabilities and attract investment.

 

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