Home ›› 13 Mar 2023 ›› Back
With joint investment from Bangladesh and Saudi Arabia, Beximco Pharmaceuticals is set to start producing medicines in Saudia Arabia from next year, Prime Minister’s Private Industries and Investment Adviser Salman F Rahman said on Saturday.
The country will provide the kingdom with manpower and technical support for the plant, he said while speaking to reporters after a visit to Beximco Pharmaceuticals with a delegation led by Saudi Commerce Minister Majid bin Abdullah Al Qasabi.
Salman said, “We are committed to producing medicines, maintaining top quality. In terms of pharmaceutical exports, we must adhere to a variety of international procedures. This is why people around the world have trust in medicines produced in Bangladesh.”
“According to reports, the medicines produced in Bangladesh are of high quality. Besides, prices are also quite reasonable compared to other countries,” he added.
“The government is setting up a pharmaceutical park. The raw materials for medicines will be produced there very soon, which will further accelerate the industry’s growth,” he added.
The Saudi commerce minister arrived in Dhaka on Friday afternoon to attend the Bangladesh Business Summit 2023, organised by the FBCCI in Dhaka.
On Saturday, Bangladesh and Saudi Arabia signed three MoUs to strengthen economic and trade relations between the two countries.
Later, a group led by the Saudi commerce minister visited Beximco Pharmaceuticals and met with a company delegation.
Talking to reporters, the Saudi minister said: “Trade and investment between Bangladesh and Saudi Arabia have not yet reached the desired level. We will explore the trade relations between the two countries through the visit.”
“We also want to harness our potential in information technology, communication and manpower exports,” he said.
Citing Beximco Pharmaceuticals as a “world-class pharmaceutical manufacturing factory,” Qasabi said the company is producing medicines using all advanced technologies.
Beximco Pharmaceuticals Managing Director Nazmul Hasan Papon said at least 30 types of medicines will be produced at the plant in Saudi Arabia.
“Even though the plant is being constructed with a joint investment from both Saudi Arabia and Bangladesh, we are providing the majority of the funds,” he said.
Bangladesh currently exports medicines to 160 countries around the world after meeting its demand.
According to the Directorate General of Drug Administration, the export of medicines in FY2021–22 was $188.78 million.
