Health Minister to foreign investors: set up drug manufacturing plants

by Bharatha Malawaraarachchi

Healthcare and Nutrition Minister Nimal Siripala de Silva invited foreign investors to set up pharmaceutical manufacturing plants in Sri Lanka, promising all State assistance. He assured that the Government is prepared to extend a total 'money back' guarantee for the prospective investors.

"You might say that Sri Lanka being a small market, you won't be able to get a fair return on your investment. Of course, the Government is prepared to give you a money back guarantee," Minister de Silva told the Eighth Suppliers' Convention of the State Pharmaceutical Corporation held at the Earl's Regency, Kandy.

The convention was attended by a large number of foreign and local drug manufacturers who are suppliers of the SPC.

Drawing the attention of foreign participants, Minister de Silva elaborated on the need and importance of establishing pharmaceutical manufacturing plants in Sri Lanka.

He said the SPC has advertised for the setting up of a saline plant as well as another pharmaceutical manufacturing plants.

The Minister noted that any genuine investor who ventures to produce pharmaceutical items in this country would be awarded the total requirements for such items from the State sectors on agreed terms for a stipulated time period.

"That will give you a guarantee and ensure that your investment will be fruitful. So we are there not only to purchase items but also to enter into a long term partnership with the manufacturers."

He said the Government is also prepared to encourage Sri Lankan manufacturers to enter into international partnerships with their colleagues abroad.

The Minister said despite all challenges and problems the task of the Government and Health Ministry is to ensure the steady flow of pharmaceutical requirements of the country at affordable rates.

"It is the duty and responsibility of the people as well as the Government to ensure that the SPC expands to serve all the people of this country."

The Minister pledged to extend his fullest cooperation to strengthen the SPC.

Head of Department of Pharmacology (Faculty of Medicine - University of Colombo) Prof. Lal Jayakody and Senior Lecturer of Department of Pharmacology (Faculty of Medicine - University of Kelaniya) Dr. A Dissanayake delivered special lectures.

Chairman of the SPC Ananda Wimalasena and Deputy General Manager (Marketing) Mrs. Suranganie Perera also addressed the convention.