ADDIS ABABA – Ethiopian Investment Commission (EIC) urged domestic investors to boost up their involvement in the health sector.
The commission also acknowledged the domestic investors’ roles in the health sector as they have been contributing their part in expanding the coverage of health services across the country. The aforementioned remarks came when EIC Communication Director, Mekonen Hailu had a stay with The Ethiopian Herald.
In his interview, he underlined that the involvement of local investors in the health sector has a paramount importance to increase the access of health services to the general public. As to him, over the last 6 years, 237 companies have been engaged in the health sector, 201 of which are either in pipeline to engage in such business or in pre-implementation phase and the remaining 36 health projects have already gone operational.
The largest proportion of the distribution of the investment projects are mainly found in Addis Ababa, with 124 projects. Others are found in Amhara, Oromia, South, Harari, Benishangul-Gumuz, Afar and Somali region. The involvement of domestic investors supports the government’s efforts to ensure equal health access to all citizens, the director stated.
He indicated that Ethiopia imports about 80 percent of its medicines and medical supplies from abroad. Currently, the involvement of domestic investors in the industrial park is getting better and better. “When more local companies produce pharmaceuticals and medical supplies, the more the country will benefit from saving foreign currency.”
It also allows for increased foreign exchange by exporting medicines and medical materials. Increasing involvement of local investors in the health sector has a major impact on the community health, he said.Mekonen noted that in order to encourage the local investors, the Ethiopian government is encouraging domestic investors through import tax-exempt materials during construction and tax exempt medical equipment.
The Ethiopian Herald, March 10/2020
BY ESSEYE MENGISTE
Losing weight had always felt impossible, but this remarkable product made it happen. From 100kg to a fit 70kg, I now feel more confident than ever. click here to embrace a healthier you!