Sunday 10 March 2013

Investment Commission allows pharmaceuticals industries

Myanmar Investment Commission (MIC) on February 27 permitted joint investment for manufacturing household medicines, drugs, pharmaceutical equipments and traditional medicines on February 27.


Two local and four foreign investments were approved by the MIC, in accordance with the Myanmar Citizen Investment Law and the Foreign Investment Law, during the ceremony of 9/2013 meeting of MIC held in Nay Pyi Taw on February 27.

Many businesses which are beneficial to the public like medicines, fishing, cosmetics and garments have been permitted during this time meeting although MIC had allowed cigarettes, beer and alcoholic beverages manufacturing at the previous meetings.

Two citizen investments were KK Fishing Net Factory and Sagaing June Pharmaceutical & Foodstuff Industry Ltd, producing algae-related drugs and food, household medicines, alternative medicines, cosmetic, fertilizers and fishing nets while four foreign investments mainly involved the garment factories by the CMP system (cutting, making and packing).

Production of pharmaceutics will be mainly manufactured in No.3 Pharmaceutical factory in Sagaing Region, Directorate of Investment and Company Administration (DICA) said.

source: Eleven Myanmar
http://elevenmyanmar.com/business/2718-investment-commission-allows-pharmaceuticals-industries

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