By Monitoring Desk
ANKARA: The Turkish government is planning to boost its domestic medicine production, as it has broken into the foreign investor market following the new “domestic production” requirement for pharmaceuticals.
The government’s encouragement for “local production” has created a market of 2.4 billion Turkish lira in just two months and has caused the world’s pharmaceutical companies to turn to Turkey for investment opportunities.
The Social Security Institution Vice President Orhan Koç stated that in a short time, Turkey will start exporting drugs to foreign countries.
“We want foreign pharmaceutical companies to invest and settle in Turkey with the advent of this new domestic production condition. Today, generic drugs are produced, and tomorrow we will be able to produce biotechnological origin drugs,” he said.
Koç added, “We want foreign investors to take advantage of these opportunities. Turkey is a suitable country to export to African, Middle Eastern, and European markets.”
The government has already removed 54 imported drugs from its list worth 1.7 billion Turkish lira and will implement further restrictions for 200 more pharmaceuticals in the next 12 months.
Foreign companies see Turkey’s determination in this field and have begun to work with domestic pharmaceutical companies to open new manufacturing plants in the country.
