Iraq’s Prime Minister, Mohammed Shia Al-Sudani, has announced that the pharmaceutical production sector in Iraq is now open for potential investors.
Al-Sudani chaired a meeting with representatives from Synagine Group, which produces cancer drugs, and Pakster, which offers renal dialysis solutions. Officials from the Ministry of Health’s National Health Factory and several advisors also attended. They discussed ways to promote the localization of Iraq’s pharmaceutical industry, with a focus on private sector collaboration and involvement of the National Health Factory.
At the meeting, Al-Sudani received detailed presentations about the capabilities and accomplishments of various companies in other countries. These companies are willing to transfer knowledge and technology to Iraq and support the creation of a pharmaceutical industrial city that will attract companies interested in drug manufacturing. Al-Sudani emphasized that companies of all kinds have access to investment opportunities in the pharmaceutical industry, which is expected to have a bright future.
In addition, the Prime Minister emphasized the significance of complete technology transfer in all phases of drug manufacturing. He highlighted that pharmaceutical plants should not confine their engagement to simply packaging and labeling, but should also actively participate in the production process.
Al-Sudani has extended a warm welcome to companies keen on operating within Iraq’s pharmaceutical industry, which is currently a top priority for the government. He emphasized previous meetings with local and foreign manufacturers, resulting in a comprehensive plan of action. This plan includes streamlined registration processes, customs exemptions, and tax incentives for raw materials, equipment, and crucial medical devices necessary for manufacturing pharmaceutical products. Additionally, the government is willing to make it easier to acquire loans for building factories and expanding production lines.
The Prime Minister highlighted the National Health Factory as a great example of the successful collaboration between public and private sectors.