Basra: Intention to establish a pharmaceutical factory that limits imports

Baghdad-INA

The Basra Investment Authority announced Sunday the work to establish a pharmaceutical factory and the largest recreational city in the province, while noting that this year's investments amount to $1.5 billion.
 
"Sixty-five investment projects achieved 100% completion rate over the past year, and 14 projects with completion rates exceeding 75%," Alaa Abdul Hussein Salman, head of the Authority, told The Iraqi News Agency (INA).
 
"The Authority's plan for this year focused on targeting investments of up to $1.5 billion through a study conducted at the Authority on the outlook and growth rate of the investment market with the World Bank's expectations in terms of the Iraqi economy," he said.
 
 
"The authority's plan will include the tourism sector, with the establishment of a recreational city and will be the largest in Basra province and will be located in the Shatt al-Arab district and will be an architectural design in line with modernity, and the Authority will also work to establish a laboratory for pharmaceutical industries with an area of 7 duanm to produce  medical supplies and antibiotics in accordance with high standards and specifications, as this will contribute in providing treatments in the local market and to reduce their import from outside the country and approval has been obtained from the Ministry of Industry to establish the laboratory," Salman said.