M a r k e t N e w s

Tanzania Government Has Announced New Incentives For The Pharmaceutical Investors

Posted on : Wednesday , 7th August 2019

The government of Tanzania is coming up with a new incentive as it attempt to attract more investors into the pharmaceutical sector.

Under the plan, it is raising the price preference to locally-manufactured medical supplies from the current 15 to 25 per cent.
 
"If a locally-produced medicine is sold at Sh125 and the imported one at Sh100, the government will pick Tanzanian product to promote the local pharmaceutical factories," Ms Ummy Mwalimu, The minister for Health, Community Development, Gender, Elderly and Children, said.
 
She further noted that the government was serious on promoting local pharmaceutical industries.
 
“I have already submitted the proposal to increase price preference to the minister for Finance and Planning,” said Ms Mwalimu at the manufacturers and suppliers annual general meeting.
 
According to Tanzania Revenue Authority, pharmaceutical manufacturers also pay 20 per cent of income as corporate tax instead of 30 per cent paid by other companies.
 
Tanzania’s annual pharmaceutical procurement increased by 20 per cent to hit $1 billion (Sh2.25 trillion) in 2018/19 as the government deepens availability of medicines in the country.
 
According to MSD Finance and Planning director Sako Mwakalobo, this local market figure rose from $800 million in the previous year.
 
The government changed its procurement strategy from using supplier agents to buying directly from manufacturers since 2016.
 
Ms Mwalim, said, “After doing away with the middle men, we have seen cost reduction by an average of 40 per cent. We are not going to change this strategy as it helps the government save about $2 million per year.”

Source : newzmart
Featured Companies
  • /
  • African Business Development Association
  • /
  • TITAN Containers A/S
  • Mercury Tube Products
  • SMES Today Magazine
  • DOOREE INTERNATIONAL CO LTD
  • africabusiness.com
  • Your Banner HERE!

Complete List  

Advertisers in previous issue:

  • IGW is a very unique glacier water company, which is environmentally green, and uses some of its water resourses for humanitarian purpose
  • LIGMAN Lighting was established in Thailand by Mr. Sakchai Manawongsakul. We establish an outdoor lighting company based on the word "quality".
  • Proven, high quality, reliable and cost effective solution for a wide variety of coding & marking applications.
  • Involved in spectrum of activities like Industrial Flooring, Waterproofing, Repairs and Rehabilitation and Acidproof Treatments etc.
  • Home Appliances
  • Premier trade shows helping volume buyers source from Greater China
  • SINTER SUD has been manufacturing premium quality hard metal items, through modern technologies and innovative production processes.
  • Stylam Industries Limited, where creativity and skills meet with each other to change the definition of a range of laminates
  • Linnhoff Technologies is a German manufacturing company that produces whole range of asphalt plant
  • JNBK Corporation is a trusted leading manufacturer for top quality brakes with a widest range of products covering main applications for Japan, Europe & Americas.
  •  ABL Machine Tools, One of the group companies of ABL India is India
  • Manufacturing of various kind of Road Building Machinery.
Afrotrade International Marketing, Tel: +971-50-6285684
© 1998-2020 Afrotrade