JAKARTA, Indonesia, April 4, 2016 /PRNewswire/ -- On 29/03 the Indonesian government released the 11th economic stimulus package with the aim of boosting the domestic production of medicines' raw materials, particularly for five product categories: biotechnology, vaccines, herbal extracts, active pharmaceutical ingredients and medical devices.
Indonesian Chief Economics Minister Darmin Nasution commented further that the government will encourage additional development through private investments, partnerships between private and state-controlled companies, and synergies among state-controlled pharmaceutical companies.
In a recent move, the government had also removed the pharmaceutical industry from its negative investment list implying 100% foreign ownership is now allowed. Nasution also added that other steps taken by the government include offering tax holidays, the development of a special economic zone as well as an integrated logistics center.
These and other positive factors have contributed to the recent renewed upsurge in interest in the Indonesian pharmaceutical market shown by local and international companies exhibiting at CPhI SEA - the only trade exhibition dedicated to the pharma industry in the region - held at the Jakarta International Expo during April 6-8, 2016.
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The CPhI series of events drives growth and innovation in the global pharmaceutical industry, with leading exhibitions and online communities covering every step of the supply chain from drug discovery to finished dosage.
More than 100,000 visitors meet over 6,000 exhibitors at events in Europe, China, India, Japan, South East Asia, Russia, Brazil, Istanbul and Korea every year to exchange ideas, form alliances and conduct business on an international scale. CPhI also provides an online buyer & supplier directory at CPhI-Online.com.
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SOURCE CPhI - UBM