Trade and Industry Department (DTI) urges Indian pharmaceutical companies to set up Philippine manufacturing operations.
Trade Secretary Ramon Lopez said Friday the DTI invited drug manufacturers in India to set up manufacturing facilities in the country since the nation of South Asia is one of the world’s largest pharmaceutical producers.
Indian pharmaceutical companies will help reduce the country’s price of medicines, the Chief of Commerce said.
The Cabinet official stated that there could be business-to-business discussions between local and Indian pharmaceutical companies about the possibility of developing manufacturing facilities in the state.
Indian drug manufacturers would have a significant impact on the Philippine market, said Rolando Enrique Domingo, Health Under-Secretary and president of the Food and Drug Administration.
In order to attract investors, Lopez assured Indian businessmen that the Philippines would be better able to do business.
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