Vacsera to supply vaccines worth LE 350M annually for 5 yrs

CAIRO – 15 August 2017: The Ministry of Health and Vacsera for vaccines signed a cooperation protocol to supply the ministry with vaccines at LE 350 million ($ 19.7 million) annually for the next five years, a Tuesday statement said.

During the inauguration ceremony of the EgyVac factory for life-saving vaccines production, affiliated to Vacsera, the Minister of Health Ahmed Emad al-din Rady said that Egypt has developed 78 medical centers all over the state.

Moreover, the UAE Ambassador in Cairo Gomaa Mubarak al-Ganebi said that the EgyVac factory is one of the development projects to be established from the UAE $ 4.9 billion grant to Egypt.

Ganebi added that the UAE is proud of such a factory as it will provide the Arab world and the region with life-saving vaccines, highlighting that his country is giving due concern to health in cooperation with the World Health Organization (WHO).

The UAE has 780 companies investing in Egypt at a total value of $6.2 billion, the ambassador noted, adding that the Egyptian economy has witnessed several developments, which contributed to offering job opportunities and regaining the investors’ confidence, especially after the application of the New Investment Law.

Egypt’s government actuarial studies revealed that if the state issued the proposed Universal Healthcare Act, it will cost the country LE 130 billion in the fiscal year of 2017/2018, Al Borsa reported on Wednesday.