The European Union and the German Ministry for Economic Cooperation and Development have given out €415,437.78 grant for the implementation of the PharmaVax Programme, aimed at transforming Ghana's pharmaceutical sector.
The programme is built around four key pillars; strengthening governance institutions within the pharmaceutical sector, enhancing public-private dialogue between government and industry players, improving the environment for foreign direct investment and trade, and promoting greater transparency in investment conditions and authorisation processes.
In a statement, the Director of Administration at the Ministry of Trade and Agribusiness, Yaw Sakyi, said the government was committed to making Ghana the pharmaceutical manufacturing hub in the sub-region.
He added that the pharmaceutical policy will provide the necessary implementation systems for the growth of the industry and expressed appreciation to the EU and Germany for their support.
As part of the initiative, the Head of the Pharmaceutical Manufacturing Development Unit of the Ministry, Godfred Gobah, stated that the Ministry will engage the private sector and participate in local and international events to increase the visibility of Ghana's pharmaceutical industry and create new market access opportunities.
The Ministry expects the programme to lay a solid foundation for achieving several strategic objectives by 2030, including doubling the export value of pharmaceutical products within the ECOWAS market and increasing the market share of locally produced pharmaceutical products from 30 per cent to 60 per cent.
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