Iran-Zim to launch pharmaceutical joint venture 

Source: Iran-Zim to launch pharmaceutical joint venture – herald

Zvamaida Murwira in Tehran, Iran

IRAN has committed to set up a pharmaceutical and tractor manufacturing firm in Zimbabwe through a joint venture with local State entities, in a move expected to bolster the country’s mechanisation and healthcare capabilities.

The deal could also potentially transform Zimbabwe into a regional hub for these sectors.

The agreement was formalised at a meeting between Vice President Dr Constantino Chiwenga and Iranian Minister of Cooperatives, Labour and Social Services, Dr Ahmad Meydari. Representatives from Iran’s Industrial Group of Tractor Manufacturing also attended the discussions, highlighting the collaborative efforts between the two nations.

The establishment of pharmaceutical services is expected to facilitate technological transfer and enable Zimbabwe to produce unique drugs that are not currently manufactured locally, thereby avoiding competition with existing firms.

This initiative aligns with President Mnangagwa’s modernisation and industrialisation agenda to enable Zimbabwe to attain upper-middle-income status by 2030.

The joint venture is also set to advance the Government’s rural industrialisation goals.

VP Chiwenga expressed optimism about the potential for reduced drug import costs through domestic manufacturing. Zimbabwe is centrally positioned and will be able to supply pharmaceuticals to over 200 million people when we have a joint venture company in Zimbabwe.”

In addition to the pharmaceutical venture, a tractor assembling firm will partner with the Industrial Development Corporation, reinforcing the Government’s commitment to enhancing agricultural productivity.

VP Chiwenga underscored the importance of collaboration in health and agriculture, particularly in light of Iran’s recent advancements in drug development.

During his visit, he toured Tamin Pharmaceutical Investment Company, Iran’s leading pharmaceutical exporter, and noted the significance of establishing a manufacturing plant in Zimbabwe to serve Southern Africa and beyond.

VP Chiwenga remarked on the slow implementation of the 13 Memoranda of Understanding signed between Zimbabwe and Iran in 2023, urging ambassadors from both countries to facilitate the operationalisation of these agreements.

“We must ensure that the bureaucratic system responds to the political will that has been established,” he said.

Minister Meydari highlighted the potential for Zimbabwe to serve as a gateway for exporting pharmaceutical products throughout the Southern African Development Community (SADC) region.

VP Chiwenga is in Iran, where he is leading a Zimbabwean delegation participating in the Iran-Africa Economic Conference meant to deepen cooperation between the Asian country and African nations.

VP Chiwenga is accompanied by Deputy Ministers from the following Ministries: Mines and Mining Development, Engineer Caleb Makwiranzou; Industry and Commerce, Raj Modi; Lands, Agriculture, Water, and Rural Resettlement, David Marapira; Higher and Tertiary Education, Innovation, Science Development, Simelisizwe Sibanda.

The Deputy Ministers were upbeat about the prospects of setting up a tractor manufacturing firm in Zimbabwe, saying it will go a long way in uplifting small-scale farmers.