GAFI, EDA probe upgrading pharmaceutical, medical supplies' industries

CAIRO - 2 July 2020: Chairman of the General Authority for Investments and Free Zones (GAFI) Mohamed Abdel Wahab discussed during a meeting with Egyptian Drug Authority (EDA) Chairman Dr.Tamer Essam joint investments and cooperation to ramp up pharmaceutical and medical supplies' industries.

The meeting also tackled putting into effect all measures required to forge ahead with developing and shoring up local production of medical equipment.

In a statement issued here Thursday, GAFI chairman lauded EDA pivotal role in providing the local market with all needed medical supplies, especially at the current juncture, as the entire world is encountering unprecedented challenges due to the outbreak of the coronavirus.

Abdel Wahab expounded GAFI's ongoing contacts with investors operating in the medical industry domain, with a view to luring more investments and opening new markets.

He referred to the government’s efforts to facilitate measures and issue permits for investors seeking to operate in the medical industry business in coordination with pertinent parties.

GAFI chairman further accentuated the importance of supporting local factories to up their exports and increase their efficiency.

On his part, the EDA chairman highlighted the importance of cooperation between the two sides, along with encouraging investors to embark on businesses in Egypt, with the aim of transferring know-how and benefiting from modern advances in this field.

Both GAFI and EDA agreed to form a working group to be entrusted with following up as well as removing any obstacles hindering investments and promote Egyptian-made pharmaceuticals worldwide.