PEZA partners with local pharma firms to establish a modern pharmaceutical park under CREATE Law for tax incentives and faster licensing.

The Philippine Economic Zone Authority (PEZA) is partnering with local pharmaceutical firms to establish a modern pharmaceutical park, targeting drug and medical device manufacturing, research, and development. The initiative is part of the CREATE Law, which offers tax incentives for health and pharmaceutical activities. PEZA is also exploring a "green lane" for a faster licensing process for pharmaceutical and medical device manufacturers, aiming to increase local drug supply and reduce costs.

March 17, 2024
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