THE government has expressed its commitment to expanding investment opportunities in the pharmaceutical and medical equipment industry.

Mohamed Mchengerwa, the Health minister, issued this commitment here yesterday at a meeting with executives of Shandong Hongyu Medical Technology Group, a Chinese firm, which presented its intention to invest in a large-scale factory for pharmaceuticals and medical devices.

President Samia Suluhu Hassan on the need to attract more investors into the medical manufacturing sector. Those who meet the required standards will be prioritized in the investment process and access to markets, he said, stressing that if they are genuinely prepared to invest $500m, the government will not let this opportunity pass.

“We will assess their seriousness and commitment through their formal applications. I am directing the chief pharmacist and the permanent secretary to sit with these investors, guide them through government procedures and ensure they leave here fully confident that we are ready to partner with them,” he stated.

Investors need to know the extent of local and external markets provided they meet the required production standards, he said, demanding that the procedure be finalised immediately

There is no reason to hinder qualified investors as land for industrial construction is available and the government remains eager to attract investments stimulating economic growth and improve access to affordable health products, he stressed.

Increased investment in medical manufacturing will also benefit local councils through tax revenues and enhanced urban demand where such factories are build, urging local authorities to extend support to investors in factories producing health-related goods in this case.

“When investors set up industries, local government authorities gain revenue from taxes, thus investors in the health products sector should be welcomed and given room to operate. It is even better when Tanzanians themselves invest but we will gladly receive those from outside the country as well,” he declared.

The government is seeking to position Tanzania as a competitive hub for pharmaceutical production in the region, reduce import dependence, create jobs and strengthen the national health system through reliable local manufacturing, he added.