Malaysia's Pharmaceutical Exports To Hit US$200.12 Million In 2012

KUALA LUMPUR, Feb 14 (Bernama) -- The Malaysian pharmaceutical industry is gaining global recognition with exports expected to grow eight per cent this year to RM610 million (US$200.12 million) from RM564 million (US$185.22 million) in 2011. Malaysian Health Minister Liow Tiong Lai said this at the launch of the PhAMA Industry Fact Book here Tuesday. He said Malaysian pharmaceuticals was one of the 13 entry point projects (EPPs) related to the healthcare sector under the National Key Economic Areas (NKEA). The industry was recognised as a strategic economic segment and was to be developed as an engine of growth for the Malaysian economy, he said. "It is thus my fervent wish to see more multinational companies partnering with local Malaysian pharmaceutical companies as this is one of the key strategies identified that can provide the impetus which will enable the sector to achieve its fullest potential. "Indeed, the Malaysia Ministry of Health is cognisant of the fact that to realise all the Healthcare NKEA goals, we need to engage more fully with all our stakeholders," he said. Liow said the private sector especially was very important to the realisation of the NKEA's objective and the ministry would positively encourage more dialogues with representatives from corporate organisations in order to obtain critical feedback on the way forward. The healthcare industry is expected to generate RM42.2 billion (US$13.84 million) in gross national income with over 260,000 new jobs to be created by 2020. "To ensure all our 13 EPPs progress as planned, the Ministry of Health will rigorously monitor activities under the NKEA," Liow said. (US$1 = RM3.04) -- BERNAMA