Uzbekistan to Increase Production and Export of Medicines

pharmaceutical industry

Uzbekistan President Shavkat Mirziyoyev called a government meeting  on 23 May to review plans for the country’s pharmaceutical industry.

On 10 January, a road map for 2024–2025 was approved for the development of the pharmaceutical industry and the acceleration of related investment projects. This was followed by a presidential decree of 23 January which identified additional measures required to regulate the pharmaceutical sector.

To date, a budget of $100 million has been allocated for the realization of new projects in the industry, boosted by an injection of $200 million from Asakabank.

As a result, two projects worth $30.5 million have been launched over the past four months, with exports totalling $51 million.

However, a lot of potential remains untapped. To redress the balance, plans are now underway to produce pharmaceutical products worth $400 million and increase the exports to $200 million.  A total of 147 projects worth $2 billion will be launched this year alongside the commission of a further 28.

The head of state emphasized the need to increase the level of domestically produced medicines available in Uzbekistan and to ensure a balance between price and quality.

The meeting also reviewed measures to intensify the work of the innovative pharmaceutical cluster, Tashkent Pharma Park, by launching 12 projects worth $470 million.

 

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Times of Central Asia