Pharmaceuticals Investment Opportunity in Ethiopia Lucrative

Pharmaceuticals Investment Opportunity in Ethiopia Lucrative

Addis Ababa November 23/2023 (ENA) Industrial Parks Development Corporation (IPDC) said that the investment opportunity pharmaceuticals manufacturing sector in Ethiopia is lucrative.

The pharmaceutical sector in Ethiopia is heavily import-dependent, hosting few domestic producers supplying less than 10 percent to a half a billion-dollar market.

They are also producing limited therapeutic drugs, medical supplies/instruments and medical apparatus, and veterinary medicines.

According to IPDC, the Government of Ethiopia prioritized the development of the pharmaceutical sector by tailoring enabling environment to enhance domestic manufacturing and established dedicate public organs for effective policy implementation.

The country’s strong economic growth, improvements in the delivery of health care services, the introduction of social health insurance coverage across the country, and increasing public health awareness and disposable income, diagnosis, and treatment are indicators for a surge in pharmaceutical products consumption in Ethiopia.

IPDC has invited investors both domestic and foreign to invest in Kilinto Industry Park which is located in Addis Ababa close to Bole International Airport.

Several foreign investors engaged in pharmaceutical manufacturing sector have been expressing interest to invest in Kilinto Industrial Park.

Kilinto Industrial Park is one of the 13 Parks developed by the government of Ethiopia that specializing in manufacturing of pharmaceuticals.

The Park is currently hosting various international and local investors and companies in the Pharmaceuticals sector.

Provided by SyndiGate Media Inc. (Syndigate.info).