Uzbekistan's pharmaceutical industry plans for 2024 include producing $400 mn in products and increasing exports to $200 mn, as it was disclosed by presidential press service on May 23.
President Shavkat Mirziyoyev reviewed the progress and long-term plans in Uzbekistan's pharmaceutical industry, which is vital for both the economy and healthcare. The government has created favorable legal and organizational conditions for this sector, adopting significant documents earlier this year.
A Presidential Decree on January 10 approved a 2024-2025 road map for the industry’s development and investment acceleration. Another decree on January 23 outlined additional regulatory measures. As a result, $100 mn in low-cost resources and $200 mn raised by Asakabank have been allocated for new projects.
Over the past four months, two projects worth $30.5 mn were launched, creating 160 jobs, producing products worth UZS 1.5 trillion ($118 mn), and generating $51 mn in exports. However, the current achievements are considered insufficient given the industry's potential. Plans for 2024 include producing $400 mn worth of products and increasing exports to $200 mn.
President Mirziyoyev emphasized increasing the domestic market’s supply of local products, transitioning production to international standards, and ensuring a balance between price and quality.
Efforts to intensify the innovative pharmaceutical cluster “Tashkent Pharma Park” and launch 12 projects worth $470 mn were discussed. The focus remains on attracting investors and increasing the number of new projects to maximize the industry’s potential.
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