Myanmar allows private pharma firms

Pharmacy in Yangon, Myanmar
Pharmacy in Yangon, Myanmar. The country has long struggled with counterfeit drugs being sold openly.

The Myanmar Investment Commission has permitted joint investment for manufacturing of household medicines, drugs, pharmaceutical equipments and traditional medicines in the country for foreign investors in a regulation released on February 27.

Two local and four foreign investments were approved by the commission in accordance with the Myanmar Citizen Investment Law and the new foreign investment law, local media reported.

The investment commission has also allowed a joint venture between a local company and a Vietnamese firm, Stada-Venture Joint Venture Ltd, to set up a drug factory in Yangon.

In previous meetings, the commission has also  granted licenses to businesses which are seen as “beneficial to the public” like fishing, cosmetics and garments and has also allowed cigarettes, beer and alcoholic beverages manufacturing.

The two domestic pharma investments were KK Fishing Net Factory and Sagaing June Pharmaceutical & Foodstuff Industry Ltd, producing algae-related drugs and food, household medicines, alternative medicines, cosmetic, fertilisers and fishing nets while the four foreign investments mainly involved in packaging.

So far, nearly all the country’s pharmaceutical supplies of drugs were produced by the Myanmar Pharmaceutical Factory, the only state-owned pharmaceutical plant in the country under the Ministry of Industry.

A study by the World Health Organisation has found that  around 60 small-scale private drug manufacturers were known to exist in Myanmar, but none of them had been issued with a license from the Ministry of Health to manufacture drugs.

Some of the drugs currently sold in Myanmar are of unknown quality, efficacy or safety and are also imported or smuggled into the country through unauthorised channels, the WHO said.

 



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

[caption id="attachment_7524" align="alignleft" width="300"] Pharmacy in Yangon, Myanmar. The country has long struggled with counterfeit drugs being sold openly.[/caption] The Myanmar Investment Commission has permitted joint investment for manufacturing of household medicines, drugs, pharmaceutical equipments and traditional medicines in the country for foreign investors in a regulation released on February 27. Two local and four foreign investments were approved by the commission in accordance with the Myanmar Citizen Investment Law and the new foreign investment law, local media reported. The investment commission has also allowed a joint venture between a local company and a Vietnamese firm, Stada-Venture Joint Venture Ltd, to...

Pharmacy in Yangon, Myanmar
Pharmacy in Yangon, Myanmar. The country has long struggled with counterfeit drugs being sold openly.

The Myanmar Investment Commission has permitted joint investment for manufacturing of household medicines, drugs, pharmaceutical equipments and traditional medicines in the country for foreign investors in a regulation released on February 27.

Two local and four foreign investments were approved by the commission in accordance with the Myanmar Citizen Investment Law and the new foreign investment law, local media reported.

The investment commission has also allowed a joint venture between a local company and a Vietnamese firm, Stada-Venture Joint Venture Ltd, to set up a drug factory in Yangon.

In previous meetings, the commission has also  granted licenses to businesses which are seen as “beneficial to the public” like fishing, cosmetics and garments and has also allowed cigarettes, beer and alcoholic beverages manufacturing.

The two domestic pharma investments were KK Fishing Net Factory and Sagaing June Pharmaceutical & Foodstuff Industry Ltd, producing algae-related drugs and food, household medicines, alternative medicines, cosmetic, fertilisers and fishing nets while the four foreign investments mainly involved in packaging.

So far, nearly all the country’s pharmaceutical supplies of drugs were produced by the Myanmar Pharmaceutical Factory, the only state-owned pharmaceutical plant in the country under the Ministry of Industry.

A study by the World Health Organisation has found that  around 60 small-scale private drug manufacturers were known to exist in Myanmar, but none of them had been issued with a license from the Ministry of Health to manufacture drugs.

Some of the drugs currently sold in Myanmar are of unknown quality, efficacy or safety and are also imported or smuggled into the country through unauthorised channels, the WHO said.

 



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

NO COMMENTS

Leave a Reply