Experts urge foreign investment in medical device manufacturing
Skip to main content
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
The Business Standard

Tuesday
February 07, 2023

Sign In
Subscribe
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
TUESDAY, FEBRUARY 07, 2023
Experts urge foreign investment in medical device manufacturing

Health

TBS Report
28 November, 2021, 09:45 pm
Last modified: 28 November, 2021, 09:50 pm

Related News

  • 13th Colonel Commandant Induction ceremony of Army Medical Corps held
  • Israel to offer fourth Covid vaccine shot to over 60s, medical staff
  • NASA, SpaceX delay ISS mission again for medical issue
  • 54% of medical tourists in India last year were from Bangladesh
  • Indian medical workers scale mountains to bring vaccines to remote corners

Experts urge foreign investment in medical device manufacturing

Investors will get a tax waiver if they invest in the health sector

TBS Report
28 November, 2021, 09:45 pm
Last modified: 28 November, 2021, 09:50 pm
A pulse oximeter is placed on the hand of a coronavirus disease (COVID-19) positive patient at the intensive care unit (ICU) of the Sotiria hospital, in Athens, Greece, November 12, 2021. Picture taken November 12, 2021. REUTERS/Giorgos Moutafis/File Photo
A pulse oximeter is placed on the hand of a coronavirus disease (COVID-19) positive patient at the intensive care unit (ICU) of the Sotiria hospital, in Athens, Greece, November 12, 2021. Picture taken November 12, 2021. REUTERS/Giorgos Moutafis/File Photo

Experts have urged foreign investors to invest in Bangladesh's health sector, especially in active pharmaceuticals and equipment manufacturing.

Investors will get a tax waiver if they invest in the health sector, the experts said at a session styled "Health and Pharmaceuticals: Healthy leaving for all" as part of the Investment Summit at Hotel Radisson Blu in the capital on Sunday evening.

They said Bangladesh has done well in the pharmaceutical sector but in the case of active pharmaceutical ingredients and medical equipment, the situation is quite different. It has become more evident during the Covid-19 pandemic. Everything from pulse oximeters to high-flow nasal cannula had to be imported.

"We import 95% of pharmaceutical ingredients and more than 97% of medical devices," said Major General Mahbubur Rahman, director general at the Directorate General of Drug Administration. 

"So we urge investment in this sector and also for high-tech medicine like anticancer drugs, insulin, and vaccines. Bangladesh has an investment-friendly environment."

Professor Dr Mohammod Shahidullah, president at the Bangladesh Medical and Dental Council, said non-communicable diseases are on the rise due to an increase in life expectancy.

"So investors have to think of something new now. At present, we need to increase investment in molecular biological products. In addition, investments will have to be made in building specialised hospitals and creating manpower," he added.

"Why did we have to import pulse oximeters, high-flow nasal cannula, when we have so many mechanical engineers? If the investment is made in these products, then they can be exported abroad in the future. Investors need to pay attention to that."

In a presentation at the beginning of the session, Nazmul Hassan, president at the Bangladesh Association of Pharmaceutical Industries (BAPI), said, "Bangladesh is nearly self-sufficient in pharmaceuticals and 98% of its demand is met by local production. Now Bangladeshi medicines are exported to more than 100 countries. The Bangladesh pharma industry market size is $3 billion."

"The demand is higher as the price of Bangladeshi medicines is lower than the foreign market. In the United States, the price of each vial of Remdesivir is $552.38, while in Bangladesh it is just $23.30."

Professor Jonaid Shafiq, managing director at the Japan Bangladesh Friendship Hospital, said the average life expectancy of the people of Bangladesh has increased and there is money for health care so foreign investors will benefit if they invest here. In addition, tax rebates can be obtained by investing in the health sector.

Professor Dr Ruhul Hoque, the chairperson of the event, said, "The health sector is 100% open for investment. Foreign investors can invest here in hospitals, manpower creation, medical device manufacturing. The government will provide all kinds of assistance to foreign investors."

Abdul Muktadir, senior vice-president at BAPI, presided over the function.

Bangladesh / Top News

Investment on medical instrument / investment in medical device manufacturing / Medical

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • A man stands in front of collapsed buildings following an earthquake in Kahramanmaras, Turkey February 6, 2023. Ihlas News Agency (IHA) via REUTERS ATTENTION EDITORS - THIS PICTURE WAS PROVIDED BY A THIRD PARTY. NO RESALES. NO ARCHIVES. TURKEY OUT. NO COMMERCIAL OR EDITORIAL SALES IN TURKEY.
    Deaths exceed 2,600 as catastrophic quakes ravage Turkey, Syria
  • 30% cos see double-digit growth even in hard times
    30% cos see double-digit growth even in hard times
  • Govt borrowing from commercial banks surges
    Govt borrowing from commercial banks surges

MOST VIEWED

  • Photo: Courtesy
    UNFPA and BRAC host knowledge dissemination event on Covid-19
  • LC issues lead to severe shortage of surgical equipment
    LC issues lead to severe shortage of surgical equipment
  • Photo: TBS
    All the districts now at risk of Nipah virus: IEDCR
  • Major Nipah outbreak feared as infections hit eight-year high
    Major Nipah outbreak feared as infections hit eight-year high
  • Illustration: TBS
    Woes of cancer care: Scarce treatment facilities keep patients wait for months
  • Photo: TBS
    32 districts at risk of Nipah virus: DGHS

Related News

  • 13th Colonel Commandant Induction ceremony of Army Medical Corps held
  • Israel to offer fourth Covid vaccine shot to over 60s, medical staff
  • NASA, SpaceX delay ISS mission again for medical issue
  • 54% of medical tourists in India last year were from Bangladesh
  • Indian medical workers scale mountains to bring vaccines to remote corners

Features

Photo: Collected

Get your partner a lovely present this Valentine's Day

14h | Brands
Pottery Wheel Craft Kit: A creative outlet for little hands

Pottery Wheel Craft Kit: A creative outlet for little hands

14h | Brands
Say it with Colours

Say it with Colours

1d | Mode
Photo: Courtesy

From 'Made in Bangladesh' to 'Designed in Bangladesh'

1d | Panorama

More Videos from TBS

Who will survive? Adani or Hindenburg?

Who will survive? Adani or Hindenburg?

5h | TBS Stories
James Gunn’s 8-10-year plan for the DC Universe

James Gunn’s 8-10-year plan for the DC Universe

5h | TBS Entertainment
LC issues lead to severe shortage of surgical equipment

LC issues lead to severe shortage of surgical equipment

8h | TBS Insight
Stage plays are going on in the digital age

Stage plays are going on in the digital age

13h | TBS Stories

Most Read

1
Leepu realised his love for cars from a young age and for the last 40 years, he has transformed, designed and customised hundreds of cars. Photo: Collected
Panorama

'I am not crazy about cars anymore': Nizamuddin Awlia Leepu

2
The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. REUTERS/Yuri Gripas/File Photo
Economy

IMF approves $4.7 billion loan for Bangladesh, calls for ambitious reforms

3
Belal Ahmed new acting chairman of SIBL
Banking

Belal Ahmed new acting chairman of SIBL

4
Fund cut as Dhaka's fast-track transit projects on slow spending lane
Infrastructure

Fund cut as Dhaka's fast-track transit projects on slow spending lane

5
Photo: Collected
Startups

ShopUp secures $30m debt financing to boost expansion, supply chain

6
Photo: Courtesy
Panorama

From 'Made in Bangladesh' to 'Designed in Bangladesh'

EMAIL US
[email protected]
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2023
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - [email protected]

For advertisement- [email protected]