Al-Sudani affirms open investment opportunities in pharmaceutical sector

Shafaq News / Iraq's Prime Minister Mohammed Shia Al-Sudani emphasized that the investment landscape within Iraq's pharmaceutical production sector is now open for prospective investors.

The statement from Al-Sudani's office outlined his chairing of a meeting that included representatives from "Synagine Group" for cancer drug production, "Pakster" for renal dialysis solutions, officials from the National Health Factory within the Ministry of Health, and several advisors. The discussion focused on mechanisms to support the localization of the pharmaceutical industry in Iraq, involving both private sector collaboration and the National Health Factory.

During the meeting, Al-Sudani was briefed on detailed presentations showcasing the capabilities of the companies and their accomplishments in other countries. These companies expressed their readiness to transfer knowledge and technology to Iraq, in addition to supporting the establishment of a pharmaceutical industrial city that would attract companies interested in drug manufacturing. He emphasized that investment opportunities within the pharmaceutical industry are open to all companies, signaling the promising prospects in this sector.

Furthermore, the Prime Minister stressed the importance of full technology transfer throughout the stages of drug production. He emphasized that pharmaceutical factories should not limit their involvement merely to packaging and labeling, but should also actively contribute to the production process.

Al-Sudani warmly welcomed companies interested in operating within Iraq's pharmaceutical sector, an area of heightened government interest. He highlighted a series of earlier meetings with local and foreign producers, which resulted in a comprehensive set of measures. These measures include facilitating registration procedures, customs exemptions, and tax benefits for raw materials, equipment, and essential devices used in medical product manufacturing. The government is also prepared to ease loan provisions for establishing factories and expanding production lines.

The Prime Minister pointed to the pioneering and successful partnership between the private and public sectors, epitomized by the National Health Factory.