Country Needs To Open Drug Market, Says UNCTAD Review
News: Bangladesh needs to attract foreign direct investment (FDI) in its pharmaceutical sector and consider relaxing its national pharmaceutical policy, according to an investment policy review conducted by the United Nations Conference on Trade and Development (UNCTAD). Bangladesh, which is aiming to become a middle-income economy by 2021, has yet to attract FDI to its full potential, according to industry minister of Bangladesh, Amir Hossain Amu. The country has enormous potential to attract FDI due to its strategic location between big emerging markets, competitive labour costs and buoyant private sector, according to James Zhan, director of the UNCTAD Investment and Enterprise Division. Bangladesh's current national pharmaceutical policy, which was adopted in 1982, is starting to show its limits and needs a progressive relaxation to promote the development of domestic manufacturing, Zhan added.