Egypt Signs Agreement To Establish Pharmaceuticals Factory

2024-12-30 07:07:40

(MENAFN- Kuwait News Agency (KUNA)) CAIRO, Dec 30 (KUNA) -- Egypt's General Authority for Suez Canal Economic Zone (SCEZ) and the Arab company for pharmaceutical material products signed on Monday a cooperation protocol to establish a factory for pharmaceuticals in Ain Sokhna, worth USD 120 million.
This comes in an effort to localize the pharmaceutical industry, and develop the economy while attracting investment in the health sector, to contribute to health services efficiency, said the Egyptian Ministry of Health and Population in a statement.
Egyptian Deputy Prime Minister and Minister of Health and Population Dr. Khaled Abdel Ghaffar added that the factory is an important step towards achieving self-sufficiency in this field, which will reduce imports and increase exports. (end)
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