Indonesian pharma lobbies for foreign direct investments incentives

Representatives of the Indonesian Pharma Industry declared that the government must offer incentives and widen the door to foreign direct investment in the country's pharmaceutical industry to reduce dependence on imported raw material for medicine.

Meanwhile, in a bid to encourage the industry, the Investment Coordinating Board (BKPM) gauged a plan to allow foreign investors to hold more shares in pharma companies, from currently a maximum of 85% to 100%.

The Indonesian Pharmaceutical Association (GP Farmasi) business development committee head Vincent Harijanto acknowledged that most raw materials are imported to produce medicine. At the same time he is optimistic that the country can become a production base for such overseas manufacturers given its large market, including toll manufacturing.