Prospect of Api Park in Bangladesh
Prospect of API Park in Bangladesh
Md. Razibul Habib
Department of Pharmacy
Rabita Israt 2008-3-70-047
Sonia Kamal 2008-3-70-095
Zinia Mosharraf 2008-3-70-042
Md. Shahidul Islam 2008-3-70-096
Mohammad Kawsar Manik 2008-3-70-034
Date of Submission: 24th May, 2012
The significance of pharmaceutical industry is rising in line with the increasing number of population. Bangladesh has a huge potential in pharmaceutical manufacturing and export with its skilled manpower and cutting-edge production facility. An API (Active Pharmaceutical Ingredient) Park has been the longstanding demand of country’s pharmaceutical companies. So now an active pharmaceuticals ingredient (API) industrial park will be set at Gojaria Upazila of Munshiganj some 37 kilometers southeast of Dhaka, to co-operate the entrepreneurs of pharmaceutical sector. The Park would meet local demand and boost export of APIs and drugs. The API Park would make the country’s pharmaceutical industry cost effective and more competitive globally to help increase export of quality pharmaceuticals. The Park will secure long-term growth for the country 's pharmaceutical sector. The park is expected to draw Tk 20 billion investment and create more than 20,000 high-paid jobs. Thus pharmaceutical sector of Bangladesh is ready to take the opportunity of the next wave of globalization.
According to the Bangladesh Association of Pharmaceutical Industries (BAPI), more the 90 per cent of the medicine raw materials used by the local manufacturers are sourced from India, China and some developed nations. Over the last decade BAPI has persistently made demand for API Park where they can set up plants to produce drug raw materials in a bid to cut import and build a vital back-ward linkage to one of the most vibrant industries of the country.
The project was first undertaken in 2008, but was
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