Barran Press
On December 31, 2024, a governmental meeting took place in Aden, Yemen's temporary capital, led by Dr. Qassem Buhaibeh, the Minister of Public Health and Population. The meeting focused on localizing the pharmaceutical industry in the country and included key figures such as the Minister of Industry and Trade, Dr. Mohammed Al-Ashwal, and the head of the General Investment Authority, along with representatives from various ministries.
During the session, the ministerial committee reviewed the outcomes of technical committee meetings and discussed recommendations regarding several topics, including the simplification of customs and tax exemption procedures.
The committee's agenda also covered the establishment of a one-stop shop system to facilitate processes, extending exemption periods to ten years, and implementing the 2010 Investment Law with necessary amendments.
The committee examined the strategy and action plan to encourage the localization of the pharmaceutical industry, emphasizing the need to enrich and present these plans effectively. They underscored the importance of continuing the work of both ministerial and technical committees to finalize their tasks and submit them to the Cabinet for approval.
Discussions highlighted the significance of localizing pharmaceutical production, its relation to investment, enhancing competitiveness, and reducing production costs. The current status of existing factories, ongoing projects, and associated challenges were also reviewed.
At the conclusion of the meeting, the Ministers of Health and Industry, along with Dr. Ali Jarhum, the head of the General Investment Authority, urged local and regional investors to invest across all sectors, particularly in the pharmaceuticals and food industries. They reassured that investors would receive essential governmental support, stating that the conditions for investment in the country are favorable.