Economic Czar Calls for Streamlined Processes to Boost Pharma Investment

QUEZON CITY — In a concerted effort to enhance the Philippines’ pharmaceutical sector, Special Assistant to the President for Investment and Economic Affairs Secretary Frederick Go has called on national government agencies to simplify regulatory processes and address challenges faced by industry players. This initiative is aimed at bolstering the country’s manufacturing capabilities in healthcare products.

According to remarks delivered by Undersecretary Jose Edwinel Guilas on behalf of Secretary Go during a joint briefing with the Anti-Red Tape Authority, Department of Health, Philippine Economic Zone Authority, and Food and Drug Administration in Quezon City on Monday, the economic czar emphasized the need to alleviate the bureaucratic hurdles currently impeding pharmaceutical companies. These challenges include the complex nature of regulatory policies, difficulties in import-export operations, and the barriers international pharmaceutical firms face when investing in the Philippines.

Highlighting a specific area for potential improvement, Go suggested that the Philippines could recognize certifications from countries with stringent standards to alleviate some of the regulatory burdens. “Can we not consider the certificates of other countries with higher certifying standards as compliance with ours?” Go proposed, noting that this could also help compensate for the FDA’s current limitations in manpower and equipment.

Further, Go announced that an administrative order is in the works to simplify import and export processes for the pharmaceutical industry. In a move to make the country more attractive to investors, the government is also considering the establishment of an exclusive economic zone for pharmaceutical manufacturing.

“Our office, together with the Philippine Economic Zone Authority and FDA, has called a technical working group to make it easier for pharmaceutical companies to set up their operations in economic zones,” Go added, outlining steps to enhance the ease of doing business for potential investors in the sector.