The Philippine Economic Zone Authority (PEZA) said it seeks to address non-tariff barriers, particularly in permitting and licensing, as part of the plan to review the memorandum of agreement (MOA) signed with the Food and Drug Administration (FDA).
PEZA director-general Tereso Panga said the proposed MOA update would help take actionable steps to enhance the ease of doing business for both domestic and export-oriented drug and medical device manufacturers.
The review of the MOA is expected to improve licensing and registration for prospective and existing PEZA registered business enterprises (RBEs) and institutionalize the reduction in the turnaround time through pre-assessment activities that may be transferred to PEZA.
FDA said it is committed to working in unison with the OSAPIEA and PEZA to simplify business operations in the country.
The agency aims to gain a better understanding of the concerns of locators, initiatives that are expected to elevate the local drug supply and reduce costs to competitive generic levels, similar to India.
Both agencies including the Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA) also agreed to study the provision of a green lane for PEZA locators.
The OSAPIEA and PEZA partnership will also strengthen consumer protection, education, and advocacy initiatives of the Department of Trade and Industry (DTI) on counterfeit drugs.
The partnership will involve the assistance of the Department of Trade and Industry, Department of Health, Anti-Red tape Authority, Bureau of Customs Bureau of Internal Revenue and other agencies to strictly regulate and monitor pharmaceutical-related activities in the country.
PEZA hosts 26 pharmaceutical companies manufacturing medical devices, such as Terumo, Arkray Industry, Royale Life Pharma, JMS Healthcare and Philipcare Medical.
The pharmaceutical equipment manufacturers have invested P25.5 billion and generated more than 19,000 direct jobs for the country.