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    Uzbekistan

    Uzbekistan and China sign agreements worth $3bn in pharmaceutical sphere

    Uzbekistan and China sign agreements worth $3bn in pharmaceutical sphere

    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.

    Meeting under the leadership of the president.
    Source: Presidential press service

    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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    17.02.2024, 00:03   Comments (0)   2043
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