The Chamber of Pharmacy Ghana has signed a Memorandum of Understanding (MoU) between the Chamber and Appollonia City for the acquisition of a 60 acre land to set up a pharma-park at the Appollonia village. The site will host factories for the production of medicines locally and improve supply both to the local and regional markets.
CEO of Appollonia City, Bright Amofa submitted: “Our partnership here today is to assist the Chamber with providing the land, the infrastructure and also assisting with funding for their members to be able to develop their industries. There are a number of indigenous companies who are members of the Chamber who are importing and distributing,” adding “It is important that we strengthen our local economy so this for us marks the beginning of many things to come and the growing of our local pharmaceutical company to match that of others like India which have grown.”
The President of the Pharmaceutical Importers and Wholesalers Association, Samuel Donkor is of the view continuous importation of medicines which is currently estimated at seventy percent hinders local growth leading to the increased cost of healthcare.
The association believes it must enjoy benefit of a free zones entity including seeking a one hundred percent income tax-free status and duty-free imports for building materials in erecting production lines.
“We, therefore, urge the government to do what it can by providing the physical incentives; 100 percent exemptions on import duties and levies on all inputs and raw materials to be used for the pharma-park; 100 percent exemption on export duty to enable us export to neighbouring countries; 100 percent exemption on income tax; total exemption from payment of withholding taxes from dividends arising out of investments as well as relief from double taxation for foreign investors,” Mr. Samuel Donkor noted.
By Michael Eli Dokosi/goldstreetbusiness.com