Uzbekistan: New FEZ to attract investment, pharmaceutical technologies from India

TASHKENT (TCA) — The President of Uzbekistan Shavkat Mirziyoyev has signed a Decree “On the establishment of Andijon-Pharm free economic zone,” the Jahon information agency reported.

According to the Decree, the Andijon-Pharm free economic zone (FEZ) is being established in order to create favorable conditions for active attraction of investments, primarily foreign direct investment from India, for implementation of investment projects on creating high-tech pharmaceutical enterprises, saturating the market with high-quality domestic pharmaceuticals, including based on deep processing of local plant materials, as well as integrated and efficient use of production and resource potential of the Andijan region, creating new jobs and increasing incomes of the population of Uzbekistan.

The main objectives and areas of activities of Andijon-Pharm FEZ are:

– attraction of investments and advanced technologies of leading companies from India for creation of modern industries on production of pharmaceutical products and medicines with high added value;

– creation of new modern production facilities for processing medicinal plant materials and production of finished medicines, medical products, auxiliary and packaging materials;

– ensuring integrated and efficient use of production and resource potential of the Andijan region in terms of growing medicinal plant materials in natural conditions for subsequent processing;

– deepening the process of localizing production of pharmaceutical products;

– advanced development of engineering, communication, road transport and social infrastructure of Andijon-Pharm FEZ, as well as formation of modern infrastructure of high-quality logistics services on its territory.

A special tax and customs regime will be applied during the period of operation in the territory of Andijon-Pharm FEZ.

Sergey Kwan

TCA