Localizing pharmaceutical raw materials provides product locally, doubles exports

ocalizing industry is one of the most important files on Egypt's radar, where the state is paying great attention to it, with the aim of widening the concept to different sectors and industries. 

 

One of these industries is the pharmaceutical raw materials industry, and here Emad Hamdy, head of the General Syndicate of Chemical Industries and a member of the Board of Directors of the Holding Company for Chemical Industries confirms the huge positive impact of localizing this industry. 

 

Emad Hamdy added, in statements to Egypt Today, that in addition to localizing various types of industries, especially those that are imported to reduce imports, provide hard currency and reduce demand for them, it is important to localize the pharmaceutical raw materials industry, which is not a new industry to Egypt.

 

He pointed out that localizing the raw materials industry contributes to the manufacture of medicines locally by 100 percent.

 

He went on explaining that such move will contribute to providing them to the large local market and citizens on the one hand, and doubles exports on the other hand, which is naturally reflected in the resources of companies and the growth of the Egyptian economy.

 

Hamdy considered that the development of pharmaceutical companies "is inevitable," and therefore it is necessary to reveal the nature of the development that has taken place in companies, and the extent of its positive reflection on them, so that it can be built upon and the process of development and localizing the industry can be continued, whether in public business sector companies or even private sector companies.