Agreements worth a staggering $3bn have been brokered between the Andijan region and Chinese entrepreneurs in the pharmaceutical sphere, with an additional $1bn anticipated to be attracted this year alone. Hungarian investors are also contributing to these developments.
To facilitate investment inflow, a "Silk Road" free economic zone spanning 218 hectares will be established in the Andijan district, offering investors attractive tax and customs benefits tailored for free economic zones.
An additional $300mn worth of projects are slated to be initiated in vacant land within industrial zones, further augmenting the region's economic landscape.
Expansion Plans:
- Seven projects focused on the production of complex drugs and medical products are set to be implemented, highlighting the region's commitment to advancing healthcare infrastructure.
- In a bid to foster synergy between education and production, authorities have underscored the importance of establishing a pharmaceutical cluster in collaboration with a higher educational institution.
Economic Targets:
- Officials have outlined ambitious targets for the year, aiming to attract $2.5bn in foreign investment, create 45,000 job opportunities, and achieve $1bn in exports.
- To support these objectives, starting this year, the costs associated with bringing foreign technologists, registering drugs, and transportation will be covered, streamlining the process for pharmaceutical ventures in the region.
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