The Board of Investments (BOI) said a vaccine manufacturer plans to relocate its facility to the Philippines.
The BOI also said the country has recently further accelerated the production of personal protective equipment (PPEs) and medical-grade face masks.
BOI managing head Ceferino Rodolfo in two forums over the weekend revealed the agency received an inquiry that a USFood and Drug Administration -approved facility for injectables located in another country would like to relocate its operations to the Philippines.
Rodolfo said the company will engage in the manufacture of injectables and combine it with vaccines.
“There are those types of strong (investment) leads that we have been getting,” said Rodolfo at a forum hosted by the British Chamber of Commerce of the Philippines on Friday.
The BOI said from just two medical-grade PPE manufacturers at the start of the new coronavirus disease 2019 pandemic, the Philippines now has 40 local and foreign firms some of which have repurposed their production lines.
Rodolfo said the Philippines now has a capacity to produce 18 million pieces of masks that are internationally-certified and competitively priced.
Rodolfo also said the country also has a capacicty to produce 3.2 million coveralls per month.
That volume is on a regular one-shift operations.
“We can double and triple that if we increase the shifts,” Rodolfo said.
Ayala-owned IMI last year started the production of ventilators while a Japanese company entered the Philippines for the production of testing kits.
“It is also a dream of the Philippines to have some manufacturing capacity when it comes to vaccines… (that’s) very difficult and challenging, “ Rodolfo said.
Russia has earlier expressed interest for Gamaleya Research Institute of Epidemiology and Microbiology to produce its Sputnik V vaccine in the Philippines.