Name: Ishtiaq Rouf
Addres: Baton Rouge, LA, USA
Promote and set up an auto-manufacturing plant.
Buy a license from some auto-maker. Set up a plant that will manufacture vehicles for being used in Bangladesh.
This should save us a lot of money by reducing car import, help the environment with the use of new cars, and provide employment opportunity for the thousands of engineers in Bangladesh.
Name: M. M. Chowdhury (Mithu)
Addres: Oregon, USA
I like to get Scholars Bangladesh helps to make this proposal sucessful.
-M. M. Chowdhury (Mithu)
Policy Meeting on Bangladesh Pharmaceuticals Sector at Dhaka, Bangladesh.
Mr. M. M. Chowdhury (Mithu), Director of Change Bangladesh Organization, USA (www.changebangladesh.org)
Date will be fixed by the Bangladesh Govt.
Bongovoban, Motijheel, Dhaka, Bangladesh
Proposed Guests List
1) Chief Advisor: Fakruddin Ahmed
2) General Mr. Moin Ahmed
3) CTG Current Advisors
4) Mr. Tapon Chowdhury, Square Pharmaceuticals Inc
5) Mr. Nazmul Hasan, Beximco Pharmaceuticals
6) Bangladesh Drugs Administration
7) Bangladesh Drug Associations
8) Top 15 Bangladesh Pharmaceutical Companies Executives.
9) Bangladesh Bank Governor
10) Chamber of Commerce And Industry (DCCI)
12) AMCHAM (American Chambers)
13) Top 5 Banks who are involved with investment in the industries.
1) Mr. M. M. Chowdhury (Mithu), USA will provide a PowerPoint presentation on the proposal to give a boost to the Bangladesh pharmaceutical sector and will take Q & A from the guests.
2) The main topics of this meeting will be how Bangladesh can lay the ground works to attract more foreign and local investment, build multiple pharmaceutical plants, develop this sector to create more high paid jobs, help to export more medicines, earn target of at least $3 Billion foreign exchange within 3-4 years.
3) What can Bangladesh Govt do right now to lay the ground works to expand this sector like Garments industries?
4) What can Bangladesh Drug administration do to uphold the standard of medicines compare to US FDA, EU and or WHO?
5) What can Bangladesh pharmaceutical companies do to compete with foreign competitors to achieve more export markets in the world? What kind of strategies or plans need to be adopted by the Bangladesh Pharmaceutical companies to be granted to the world market?
6) What strategies should we take to bring more than US$3 Billion investment in this sector by next year?
7) What is the time line to make progress in various process/components?
8) What are the opportunities for Bangladesh Pharmaceutical companies?
9) What are the challenges for Bangladeshi pharmaceutical companies today and how they can over come that?
10) Roundtable discussion and hear from all the guests at the meeting.
11) Make a binding resolution from this discussion and work on implementation process.
Pharmaceuticals manufacturing opportunity in Bangladesh:
Today Bangladeshi pharmaceutical companies produce approximately 97% of local medicines needs in Bangladesh . Medicines are exported to more than 32 countries in the world. Pharmaceuticals manufacturing opportunities in Bangladesh is brighter than ever since it has low cost high skilled manpower compare to other countries in the world and received Least Developed Country (LDC) status until 2016 from the World Trade organization (WTO) at Doha , Qatar .
With 6 billion people in the world and greater aging population, the need for medicine is greater than ever. Today $800 Billion dollars world medicines market will expand to $1.6 Trillion dollars by 2035. Costs of medicines are increasing as well. So cheap medicines will trump the world and its manufacturing businesses especially in Bangladesh . This is a win-win situation for both Bangladesh and foreign pharmaceutical or investment companies because investors/companies will get high return of its investment and this will create high paid jobs in Bangladesh . There are few world class pharmaceuticals manufacturing companies who have their own manufacturing plant or contract manufacturing plant in Bangladesh . Novartis and Aventis are the leading in contract manufacturing activities in Bangladesh .
Cost of medicines has increased in China and India since they have entered to WTO. Bangladesh has unique opportunity to bring down the cost of manufacturing medicines due to the low cost high qualified manpower and its LDC status. I predict that Bangladesh pharmaceutical sector can add more than $10 billion to the GDP if more foreign investments can be brought to build multiple pharmaceutical plants in Bangladesh within 5 years. This sector can create more than a million high paid jobs in Bangladesh within 3-5 years if good and real policies are adopted.
Policies and Action Plans need to be adopted:
The following main points will be discussed and more retails will be presented in the meeting:
I) Develop four (4) EPZs for the Pharmaceutical Sectors (one in Mymensingh, one in Syhlet, one in Chittagong , and One in Munshigonj). Each of the EPZ will be at least 500 acres and will be ready to build API plants and Pharmaceuticals plants by August 2008. An aggressive implementation plan is required to meet the date line.
II) Develop a committee with local and foreign experts (foreign experts are more important to achieve this goal) and dispatch to various countries including Middle East, EU, China, and USA to provide the presentation about the mega projects (4 EPZs) and provide tax incentives to the investors and or investment groups to invest to build contract manufacturing plants and Active Pharmaceuticals Ingredient (API) Plants in Bangladesh. Middle East countries have access of more than $1 trillion and looking for invest in the emerging markets in next few years. We should take aggressive plan to attract their investment.
III) Provide incentives to local pharmaceutical companies to join-venture between them which will provide more capital and have access to more investment and will able to produce quality medicines and able to get more foreign market shares.
IV) Bangladesh now should focus on API plants and export raw materials to USA or EU for now, and then work on exporting medicines to those countries. Ground work has to be done before we will able to export to those countries.
Fix the Bangladesh Drug Administration:
1) Submit and Implement new strict regulations for the Pharmaceuticals Companies in Bangladesh. Medicines manufactured for local and foreign market will have to have right and full active ingredients. Most of the medicines manufactured for the local market in Bangladesh does not work in patient since there are no strict regulations and penalty implement by Bangladesh Drug Administration.
2) Remove corruption from Bangladesh Drug Administration.
3) Provide a budget to train a group of pharmaceuticals inspectors with the help of US FDA.
4) Implement the policy to shut down any pharmaceutical company who failed to meet the standards of manufacturing quality medicines after two warning. This policy is not for shutting down a company but to encourage quality medicines for local and foreign markets.
5) Provide tax break if a company spend on pharmaceuticals training by foreign experts for next 10 years.
6) There are 5 -6 big pharmaceutical companies in Bangladesh and rest of the pharmaceutical companies are like a mom and pop shop who do not have resources, equipment, or means to manufacture quality medicines. Bangladesh Gov’t must adopt a policy to encourage them to merge between medium and small pharmaceutical companies or foreign companies by giving 3 years tax break on profit and no tax on imported equipment/system for a new plant for the combined companies.
7) Encourage local and or foreign banks to provide low interest rate loan to those merged companies for building the new plants.
Policy to expand Bangladesh medicine export markets
1) Adopt new policies to encourage foreign and local investment in the pharmaceutical industries. Provide 10 years tax break for foreign pharmaceutical companies.
2) Raise foreign office expenditure from $2,500 to $200,000 to explore international medicines market.
3) Build an independent pharmaceutical laboratory with the help of private sector in Bangladesh. This laboratory is essential for the analytical testing for manufactured medicines for local and foreign markets.
4) Expedite the project to allocate land to build the Active Pharmaceuticals Ingredient (API) and Drugs manufacturing Plants in Bangladesh.
5) Submit and implement new policy and budget to promote better education in the pharmaceuticals sector. Revise the curriculums to match international standards education in the pharmaceuticals sector.
6) Help Bangladesh to build knowledge based society.
7) Create 10 lakh jobs within 5 years in the pharmaceuticals sector in Bangladesh.
8) Adopt a policy to bring back all the professionals, businessmen, and experts’ expatriates from the foreign soil to help build this sector for a better Bangladesh.
We need to give a boost in this sector with all the available options, not just talk about or provide a wish list, let’s get an implementation process which will provide benefit for Bangladesh for years to come.
Four EPZs should be ready by August 2008. 85% of all plants will be built on these EPZs by August 2010 and will be operational by the end of 2010.
We will urge concern Bangladesh representatives and Embassy of Bangladesh at Washington DC Embassy to covey our proposal on technical assistance and advisory help to Bangladesh to give a boost for the pharmaceuticals sector in Bangladesh. This policy will lay down the ground works for future benefits in Bangladesh. This meeting/proposal/technical assistance will be a courtesy of Change Bangladesh Organization, USA broader vision for Bangladesh to create more jobs, develop the pharmaceutical sector and increase the buying power of the people of Bangladesh with creating high paid jobs.
The success of this proposal will be depended on the end users (Bangladesh Govt and People) if they adopt and implement it. All we can try is to push them to accept better policy to get better future benefit.
This meeting/proposal/technical assistance will give Bangladesh Govt. a unique opportunity to assess all available options to move this sector forward for the country.
M. M. Chowdhury (Mithu),USA