CAIRO: The Ministry of Agriculture will expand cultivation of medicinal and aromatic plants to revitalize the pharmaceutical industry in Egypt and increase state receipts of medicines and medicinal plants especially in the Upper Egyptian governorates in the upcoming period, Minister of Agriculture Ayman Farid Abu Hadid said.
The ministry is currently adopting several proposals to increase the quantities of medicinal and aromatic plants in the upcoming period to improve the Egyptian economy, boost the health sector, and increase the national income of foreign exchange. Medicinal plants are considered a hard currency source, Al-Maal Business Daily reported.
“Besides the consumption of medicinal and aromatic plants, Egypt’s revenues of them ranged between $75-85 million annually,” Abu Hadid said, pointing out that Egypt has advantages that qualify it to double its productions in the next few years. “Medicinal and aromatic plants have a promising future, especially with the world’s recent growing needs of these plants.”
As for developing the medicines sector as a whole, Minister of Industry, Trade, and Investments Mounir Fakhry Abdel Nour announced Sunday that “developing the public sector’s medicines companies is topping the government priorities in the current period. We aim to meet the citizens’ growing needs and to ensure providing medicines with appropriate prices in the current next fiscal year of 2014-15.”
“The decision to increase public sector’s medicines companies production shows the government’s keenness to ease the burdens of Egyptian citizens by providing medicines with high qualities and low prices,” Abdel Nour said.
The public sector’s medicines companies, a total of 11 companies, are playing vital roles to provide citizens’ needs of medicines by producing 1,200 pharmaceutical formula that intervene in manufacturing most of medicines in Egypt, Abdel Nour said.
The Ministry of Trade will coordinate with the concerned parties in the upcoming period, including the Ministry of Health and the Export Council of Medical Industries to apply modern technology in medicinal industries.
The health sector was concerned of the Egyptian government in the last period when the government increased the financial allocations for the health sector in the 2014-2015 budget by 18 billion EGP. The budget will reach 50 billion EGP, compared to 32 billion EGP in the current budget.