Manila, Philippines – March 14, 2024 – The Philippine Economic Zone Authority (PEZA) is proud to unveil Pharmaceutical and Medical device Ecozones, an initiative aimed at enhancing the country’s medical manufacturing sector. These ecozones, outlined in the Ecozone Transformation Roadmap of the 2023-2028 Philippine Development Plan, mark a significant step forward in PEZA’s commitment to economic growth.
Working hand in hand with key officials from the Food and Drug Administration (FDA), led by Director General Dr. Samuel A. Zacate, as well as the Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA) with Atty. Kristine Joy Diaz-Teston representing Sec. Frederick Go. Philippine Economic Zone Authority (PEZA) led by DG Tereso Panga, is set to transform medical manufacturing through enhanced collaboration.
Pharma-Dev Zones will serve as specialized hubs for local and foreign companies involved in medical and drug manufacturing, including research and development (R&D) and clinical testing and trials. This collaborative effort with the FDA ensures that products manufactured within these ecozones meet rigorous quality and regulatory standards. This will likewise address the development and manufacture of common generic drugs that will boost local supply and bring down the prices of medicines.
Pharma-Dev Zones can boost local supply as well as provide opportunities for Filipino Small, Medium Enterprises (SMEs) to engage in the manufacturing and tolling of drugs, food supplements, and other medical products. Integration into these ecozones and global value chains will further support of the capacity and competitiveness of Filipino businesses.
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