The global pharmaceutical market is on an upswing due to technological advancements and worldwide need for medicines.
Currently, the health indicator in Afghanistan is below average and there is a massive need for medicines due to the civil wars. It suffers from one of the highest child malnutrition across the globe. Many of the Afghan nationals also suffer from a deficiency of vitamins and minerals.
The current annual consumption of medicines is more than USD 400 Million; with the government spending an enormous amount on pharmaceuticals. The Afghan market mainly relies on medicines imported from India, Pakistan, and Iran among many others. India has been supplying medicines to Afghanistan since 1992 and is mainly preferred due to the substantial quality of products and their economic value.
Many businesses that wish to establish themselves and expand their operations in the Afghan market. The Afghanistan Investment Support Agency (AISA) provides galvanizing support for such investments in the pharmaceutical sector. Businesspersons looking to invest in the pharmaceutical market should fulfill the below-mentioned requirements.
- While forming a company in Afghanistan it should consist of a President and a Vice president.
- There are no specific requirements for a Shareholder.
- The companies have to apply for a Medical Import License from the Ministry of Public Health Department (MoPH) after incorporating.
- The company should provide the MoPH with a detailed checklist of the drugs, which will be imported to Afghanistan.
- The medicines should be tested and verified by MoPH.
- Prior they should have a Trader’s Business License, which is issued by the Ministry of Commerce and Industry of the Islamic State of Afghanistan (MOCI).
- The approval for the license takes around 2-5 months after thoroughly scrutinizing the products and the background of the company.
- A foreign business person cannot start a medical store in Afghanistan.