India pledges medicine investment in Indonesia

Drug production (Illustrative image. Source: VNA)

Hanoi (VNA) – Some Indian pharmaceutical companies have pledged to invest in building a raw material manufacturing plant worth 135 million USD in Indonesia.

The commitment was made during a meeting between Indonesian President Joko Widodo and 20 CEOs of Indian companies on December 13, as part of the Indonesian leader’s two-day visit to India.

Head of Indonesia’s Investment Coordinating Board Thomas Lembong revealed that the project will be divided into two phases with an investment of 35 million USD for the first and 100 million USD for the second.

He hoped this cooperation will allow the Southeast Asian country to obtain cheaper raw materials for drug production.

Currently, India is the biggest trade partner in South Asia and fourth largest overall of Indonesia.

Two-way trade hit 14.45 billion USD in 2015./.

VNA