The Minister for Trade and Industry, Alan Kyerematen has reiterated government’s commitment as making the country the pharmaceutical hub in the West African sub-region.
He was speaking at the maiden ball of the Fellows of the Ghana Chapter of “The West African Postgraduate College of Pharmacist and The Ghana College of Pharmacists” on 7th December, 2018 on the theme “Medicine and Wealth Creation: Making Ghana the Hub of Pharmaceuticals Production”.
Mr. Kyerematen indicated Ghana has a huge potential to make the country the pharmaceutical hub of West Africa and for which reason the current government led by Nana Addo Dankwa Akufo-Addo through the Ministry of Trade and Industry is strongly promoting the development of the pharmaceutical sector under its Strategic Anchor Industry Development Initiative.
“So far, the ministry in collaboration with the Ghana EXIM Bank and some Commercial Banks is offering Medium Term Credit Support under very favorable conditions to pharmaceutical companies in the country” he said.
He also indicated that government is also developing a dedicated industry enclave and has also granted Custom Duty Exemptions on raw and packaging materials for pharmaceutical production and a selected list of pharmaceutical materials numbering up to 500 individual items are also exempted from Value Added Tax.
Government has also restricted a list of 49 medicines from importation and reserved them for local production only.
The colleges used the opportunity to honor Hon Alan Kyerematen with a certificate for his dedicated commitment and support to the industry.