Finance and Planning Minister Dr Philip Mpango (pictured) led government delegation to the conference met prospective investors, included OPEC Fund for International Development (OFID) and Korean Kolon Corporation for detailed deliberations in the first day of the forum.
Finance and Planning Minister Dr Philip Mpango (pictured) led government delegation to the conference met prospective investors, included OPEC Fund for International Development (OFID) and Korean Kolon Corporation for detailed deliberations in the first day of the forum.
According to the project description, the government wants to establish the general pharmaceutical plant under a Public Private Partnership under Build Own Operate and Transfer (BOOT) arrangement.
The plant will be constructed in Kibaha, Coast region under the Medical Stores Department to produce drugs and other medical equipment for domestic as well as East African Community and SADC markets.
Dr Mpango said, “the project was good and it aligned with sustainable development goals on health. They said they could see the good prospects of the project.”
The government had lined eleven projects to be presented to prospective investors in the three-day Africa Investment Forum organised by the African Development Bank and partners Sandton Convention Centre to advance projects, raise capital and close financial deals.
Dr Mpango said the pharmaceutical plant would also create more jobs and trade opportunities and solve the problem of counterfeit medicines as it would be easier to monitor the quality standard.