This year Uzbekistan plans to attract at least $1 billion in investment into the pharmaceutical industry and increase the share of domestically produced medicines in the domestic market to 70 percent by 2030 through the launch of new production capacities jointly with foreign companies, as well as increase pharmaceutical exports to $1 billion within the next five years. This was announced at a government meeting on March 5, chaired by President Shavkat Mirziyoyev.
Over the past nine years $1.8 billion has been invested in the pharmaceutical industry and 140 new production facilities have been launched. Today, more than 300 pharmaceutical enterprises operate in the country, including 58 directly engaged in the production of medicinal drugs.
As a result, the production of domestically manufactured medicines has doubled. Pharmaceutical products made in Uzbekistan are exported to 55 countries.
In total, the volume of the market for medicines and medical devices in Uzbekistan has reached about $2.5 billion.
The President announced a number of new opportunities for pharmaceutical manufacturers.
Specifically, starting from April 1, new projects for the production of pharmaceutical products, as well as the cultivation and processing of medicinal plants, will be exempt from land tax for three years. After the project begins implementation, profit tax and property tax will also not be levied for three years.
Additionally, the import of raw materials, equipment, and components for manufacturers of biologically active supplements and cosmetics will be exempt from duties.
