The government has pledged to continue supporting the pharmaceutical and medical equipment industry to boost production capacity of medicine in a bid to reduce imports.
The Ministry of Investment, Industry and Trade Deputy Permanent Secretary, Dr Hashil Abdallah said in Dar es Salaam yesterday while inaugurating the National Committee for Coordination of the Pharmaceutical Industry and Medical equipment that the government has provided various incentives including cutting corporate tax from 30 per cent to 20 per cent for the new industries being built in the country.
“The government has continued to set and manage various policies, laws and strategies to promote and develop these startup sectors to achieve the goals of production capacity of medicine in the country by 60 per cent thus we can reduce the dependence on importation of the medicine which currently we only produce 12 per cent.
He said the incentives are for the first five years of investment and will go along with the elimination of taxes on medicine packaging.
The launch went along with a workshop providing feedback on the draft of the National Strategy for the Development of the Pharmaceutical Industry and Medical Equipment Industry in 2022.
“The ministry will continue to coordinate the activities of Investment, production, and business of this important sector to achieve the goals of the National Development Vision 2025, the Long-term National Development Perspective Plan 2011/12 – 2025/26) and the Third Five-Year Development Plan (FYDP II 2021/22 – 2025/26),”Dr Abdallah said.
Either he advised the participants of the workshop to give opinions that will enable to have a national strategy for the development of the pharmaceutical industry that was feasible by creating a better and enabling environment for investment, production and distribution of medicine and medical devices so that the sector contributed to economic growth.
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