Department of Trade and Industry (DTI) Undersecretary Ceferino Rodolfo is inviting vaccine manufacturers from China to partner with local pharmaceutical companies to locate their facilities in the country.
During the virtual Philippines-China (Fujian) Economic and Trade Promotion Conference on November 7, Rodolfo urged Chinese vaccine manufacturers to seize the opportunity in the country as the government got support from the Asian Development Bank (ADB) to be self-reliant in terms of Covid-19 vaccines.
“For vaccine manufacturing in particular, the Asian Development Bank is assisting us to realize a vaccine self-reliance program. We are reaching out to Chinese vaccine originator companies who are interested to partner with Philippine pharma companies, who can provide initially even just a fill-and-finish facility,” he said.
The government also offers fiscal incentives to vaccine manufacturers locating here as the country aims to have a local source of Covid-19 vaccines to prevent its reliance on the volatile supply in the global market.
Opportunities for vaccine manufacturers are still high as only 26.7 percent of the population were fully vaccinated and 31.5 percent have received their first dose, according to government data.
Chinese Covid-19 vaccine manufacturers include Sinovac and Sinopharm.
Sinovac’s CoronaVac jabs were also the first Covid-19 vaccine brand to arrive in the Philippines in February.
Aside from vaccine manufacturing, Rodolfo said there are other opportunities for Chinese companies in the health sector as the government pushes for improving the healthcare system.
“Growth in the field of medical devices in the Philippines is expected to be driven by (the) government’s initiative to upgrade more health care facilities to support the projected demand from 2025 to 2040,” he added.