Government supports local pharma industry with US$60 million – Dr Bawumia

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Fri, 8 Apr 2022 Source: www.ghanaweb.com

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Government keen on diversification and value addition – Bawumia

Vice President, Dr. Mahamudu Bawumia disclosed government’s commitment to supporting local pharmaceutical companies with a US$60 million investment.

According to him, the investment was facilitated through the Ghana Exim Bank towards supporting the local pharma industry.

Speaking at the NPP's TESCON event at Kasoa in the central region, Dr Bawumia reiterated government's resolve to boost the local manufacturing of medicine in the country which is key for the health sector.

“75 percent of the approved amount [US$60 million] has been released to various pharmaceutical companies,” he said.

“Changing the structure of our economy through diversification and value addition will not happen overnight. However, it remains a major pre-occupation of the government because it is our pathway to reduce import dependency, expand the economy, create jobs, increase exports, and support the value of our currency,” the vice president added.

Dr. Mahamudu Bawumia on Thursday April 7 delivered a public lecture on the economy after several demands from stakeholders particularly from the opposition National Democratic Congress over the recent economic crunch.

In his address, he blamed the ravages of the COVID-19 pandemic and the recent Russia-Ukraine crisis for the economic woes of the country.

Despite this, he assured of government’s commitment to implementing measures that will mitigate against the impact of such external factors.

View his Timepath below:

Source: www.ghanaweb.com
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