Chinese engagement in Ethiopia's pharmaceutical sector wins acclaim
June 11,2018 By:Xinhua
June 11,2018-- The Ethiopian government on Sunday commended Chinese engagement in Ethiopia's pharmaceutical sector as an important imputes towards import substitution.
The Ethiopian government, which has been expressing its concern over the minimal share of local medical drugs production for the East African country's domestic use, on Sunday commended a newly operational Chinese Sansheng Pharmaceuticals Plc. for saving large amount of hard currency through import substitution.
Demeke Mekonnen, Deputy Prime Minister of Ethiopia, said during the plant's inauguration ceremony that despite the Ethiopian government's various measures to support the pharmaceutical sector, the "sector has not yet evolved into where we projected it to be - both in terms of its investment portfolio, production capacity, technology acquisition and the creation of employment opportunities."
Sansheng Pharmaceuticals Plc, which commenced its first phase of production on Sunday, has an annual production capacity of 5 billion solid preparations, 300 million ampoules and 10 million large volume parenterals.
Mekonnen also noted that the sector is still dominated by heavy importation of pharmaceutical products from abroad, which currently represents about 85 percent of the annual 500 million U.S. dollar local market.
"Your investment to Ethiopia could not have come at a more opportune moment," Mekonnen said.
Located inside the premises of the Eastern Industry Zone on the outskirt of Ethiopia's capital Addis Ababa, the pharmaceutical plant is an 85 million U.S. dollars investment, which was completed in less than two years.
Sansheng Pharmaceuticals Plc., based in southwest China's Chongqing Municipality, also disclosed its ambitions to serve both local and international market.
Mindy Liu, company's international business manager, told Xinhua that the company will in the near future embark on exporting medical drugs to other African countries as well as to the rest of the world, eventually bringing the much needed hard currency to the East African country.