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The Philippine Economic Zone Authority is actively engaging with Indian pharmaceutical companies that have expressed interest in locating in ecozones
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These companies include USV Private Limited, Scimplify, Nephroplus, Glenmark and Shilpa Medicare, according to PEZA director general Tereso Panga
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PEZA endeavors to promote opportunities for locators through new types of ecozones, including pharma ecozones, e-tech hubs, and Knowledge, Innovation, Science, and Technology
The Philippine Economic Zone Authority (PEZA) is actively engaging with Indian pharmaceutical companies that have expressed interest in locating in ecozones.
Some of these companies include USV Private Limited, Scimplify, Nephroplus, Glenmark and Shilpa Medicare, according to PEZA director general Tereso Panga in a Facebook post.
“As we set our sights on diversifying our ecozone investments and industries, it is imperative to keep India as top of mind source of FDI (foreign direct investment), exports and technology,” Panga said.
“We focused on FDI leads from India’s vibrant pharmaceutical industry (drug manufacturing, pharma zone development, research and development) and IT frontier technologies (AI, blockchain, fintech),” he added.
Potential locators will be entitled to fiscal incentives for their pharma packaging, API and small molecules formulation, pharma logistics, and healthcare services.
PEZA has endeavored to promote opportunities for locators through new types of ecozones, including pharma ecozones, e-tech hubs, and Knowledge, Innovation, Science, and Technology (KIST) parks to promote innovation and niche product-technologies.
These pharmaceutical manufacturing zones will encourage local production of essential medicines to make them readily available and affordable to ordinary Filipinos. These activities include the manufacturing of pharmaceuticals and medical devices, and other related activities including research and development, clinical testing and trials among others.
“PEZA is now in talks with the OSAPEIA, DTI, DOH, FDA and key pharmaceutical industry associations in setting the standards and requirements. Specifically, the PEZA guidelines will govern the establishment and registration of pharmazones in the country,” Panga said.
“This will also provide the qualifications (including minimum infrastructure requirements) and processes for potential pharmazone developers/operators. Likewise, it will outline registrable activities which locator companies may undertake within a pharmazone in order for them to avail of the fiscal and non-fiscal incentives under the PEZA framework,” he added.
Panga disclosed that PEZA will sign a memorandum of agreement with the Food and Drug Administration (FDA) on July 31 for the electronic and green lane facilitation of registered business enterprises’ applications for permits (LTO, GMP, import and export permits), and the registration agreement with Victoria Industrial Park that will host an FDA laboratory in the Tarlac pharmazone.
READ: PEZA eyes Tarlac, Bulacan as sites for first pharma ecozones
