‘Bangladesh Pharmaceutical prospects very bright’

Published : 13 Mar 2023 09:11 PM

Expert and a leading pharmaceutical manufacturer at the Bangladesh Business Summit on Monday said that not many countries in the world have pharmaceuticals manufacturing capability like Bangladesh.

Only China and India along with the Western economies have pharmaceutical manufacturing capabilities, he said.

On the third and closing day of the summit, a leading pharmaceutical manufacturer said it creates an opportunity for Bangladesh to emerge as a hub for drugs in the global market.

"None other than China and India and western world is as good as Bangladesh in pharmaceuticals. So, Bangladesh has tremendous opportunity here," said Abdul Muktadir, chairman and managing director of Incepta Pharmaceuticals Ltd.

He said China and India have big markets of pharmaceuticals worth $220 billion and $40 billion respectively and they are growing.

Muktadir, also senior vice president of Bangladesh Association of Pharmaceutical Industries, said apart from meeting domestic requirements, both India and China may not be enough to meet such huge global demand. "Everyone is looking for an India Plus One, where Bangladesh has tremendous opportunity."

Muktadir made the comments at a session moderated by Economic Relations Division Secretary Sharifa Khatun. The Federation of Bangladesh Chambers of Commerce and Industry is organising the three-day Bangladesh Business Summit 2023 at Bangabandhu International Conference Centre (BICC) in the capital.

The foreign and commerce mini­stries, and the Bangladesh Investment Development Authority (BIDA) are partnering with the FBCCI for the summit. Ministers from seven countries, including the United Kingdom, the Kingdom of Saudi Arabia, China, Bhutan, the United Arab Emirates, CEOs of 12 multinational companies and more than 200 foreign investors and business leaders from 17 countries are participating in the summit.