Ethiopia Courts Pharmaceuticals Investors as Demand Surge Seen
- Chinese and Indian investors are setting up factories
- Cheap labor a draw for manufacturers with average wage of $75
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Ethiopia is offering tax breaks and other incentives to lure foreign drugs manufacturers as the government forecasts demand will increase by almost a third by the end of the decade.
Ethiopians spend $700 million a year on pharmaceuticals, only a fifth of which are produced locally. Spending on medication is expected to grow to more than $900 million by 2020, Anteneh Senbeta, the deputy commissioner for corporate affairs at the Ethiopian Investment Commission, said in an emailed response to queries.