The call was made yesterday in Dar es Salaam during a business meeting with a delegation of 30 representatives of Indian companies touring the country.

 

Speaking during the meeting, Medical Stores Department (MSD) director general Laurean Bwanakunu said the government was spending at least $300 million for importation of pharmaceutical products annually.

 

"We spend a huge chunk of money in importation, it is high time investors came to invest here to reduce the costs," noted Mr Bwanakunu.

 

According to him, out of 80 per cent of pharmaceutical products imported, at least 60 per cent was from India.

 

He added that setting up such industries in the country would also save time. It currently takes us up to six months after announcing the tender, to receive the products

 

Seconding the notion, Tanzania Chambers of Commerce, Industry and Agriculture boss Ndibalema Mayanja assured India of favourable business environment should they decide to invest in Tanzania.

 

He made the assurance capitalising on the stability of the country and its economic growth trend.

 

"Investors will find quite a big market that extends beyond the national borders into the East African region," noted Mr Mayanja.

 

For his part, Indian High Commissioner Sandeep Arya expressed his confidence that the prospects for pharmaceuticals sector growth remain very bright in Tanzania, whose economy has been growing at the 7 per cent plus rate. His optimism is backed by the government's priority of improving healthcare and people's quest for better services.

 

He commended the Pharmaceuticals Export Promotion Council for bringing a strong group of Indian manufacturers to one of the steadily growing economy and market in East Africa. "I hope today's event will help you all to showcase your many strengths and establish long-term contacts with local businesspersons for mutual benefits," he said.

Source : allafrica.com