THE Philippine unit of Germany’s Glenwood GmbH has opened a new facility in Taguig City, making it the first pharmaceutical services project registered with the Board of Investments (BoI).
“Aimed at supporting pharmaceutical companies globally, Glenwood Services Philippines, Inc. (GSPI) has registered with the BoI as the first pharmaceutical services project in the country,” the BoI said in a statement on Tuesday.
The Taguig facility will offer quality, regulatory affairs, and pharmacovigilance services aimed at helping domestic pharmaceutical companies with safety, risk management, and compliance issues.
According to the BoI, GSPI has generated high-value jobs in the Philippines, including pharmacists, chemists, and medical science graduates.
“We are amazed by the incredible talent in the Philippines. The education, skills, and training here are impressive. We look forward to expanding our Pharmaceutical Services project and growing our presence in the Philippines,” Glenwood General Manager Ferdinand Matz said.
Glenwood also distributes niche pharmaceutical products worldwide.
Pharmaceutical manufacturers are among the beneficiaries of the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act.
“The law provides significant tax incentives, not only for large but also for micro, small and medium enterprises (MSMEs), enabling smaller pharmaceutical companies and suppliers to scale up their operations,” the BoI said.
“Businesses engaged in health-related activities and addressing supply chain gaps could receive better incentives, further promoting sustainable and responsible pharmaceutical manufacturing in the country,” it added.
Separately, the BoI said it signed a memorandum of understanding in developing critical and foundational skills in engineering and technology with DevConnect Philippines, Inc.
“We are dedicated to working with DEVCON to implement strategic initiatives that will ignite interest in science and technology among our future workforce, thereby addressing the decline of enrollees in engineering and other related fields,” BoI Managing Head and Trade Undersecretary Ceferino S. Rodolfo said.
“Ultimately, this will expand our local capabilities and secure the Philippines’ position as a leading investment hub in the region for these in-demand industries,” he added.
In particular, the partnership aims to empower Philippine information technology, semiconductors and electronics, and other priority industries in need of job-ready graduates. — Justine Irish D. Tabile