Shavkat Mirziyoyev Unveils Strategic Initiatives to Advance Uzbekistan’s Pharmaceutical Industry
Tashkent, The Gulf Observer: During his visit to the Tashkent Pharma Park innovation cluster, President Shavkat Mirziyoyev met with leaders of Uzbekistan’s pharmaceutical sector to outline a comprehensive plan for boosting the industry. The pharmaceutical sector, recognized for its significant economic and social importance, has been a key focus of government support. Over the past seven years, pharmaceutical production has doubled, exports have increased 11-fold, and the number of enterprises has tripled, with $750 million in investments secured. The country now produces 3,500 types of medicines and medical products. However, domestic production still falls short of meeting the nation’s growing demand.
In response, President Mirziyoyev announced transformative measures aimed at localizing production, increasing exports, and fostering innovation. A program to develop and produce 200 widely-used medicines by 2025 will be implemented by Asakabank and the Pharmaceutical Industry Development Agency in partnership with major enterprises. This initiative, expected to double production volumes, will be supported by $400 million in preferential funding.
To catalyze advanced projects in biopharmaceuticals, cell technologies, and oncology, an Investment Fund for Advanced Pharmaceutical Projects will be established. The fund will act as a shareholder in strategic projects. Additionally, the Reconstruction and Development Fund will provide Asakabank with a $100 million credit line for industry-specific projects, including leasing services.
Recognizing the need to stimulate startups and commercialize innovations, Asakabank will establish a venture company with an initial capital of $10 million. The company will finance promising projects and receive matching funds for independently raised investments. Furthermore, 20 billion UZS will be allocated from the Innovation Fund as grants to support the commercialization of domestic drug developments and foster startup growth.
President Mirziyoyev emphasized the need for streamlined regulatory processes to facilitate collaboration between local enterprises and leading global pharmaceutical companies. The government will cover costs associated with obtaining certifications from the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA) to support export growth.
In a push to leverage Uzbekistan’s natural resources, the production of plant-based pharmaceutical and cosmetic components will be expanded. Asakabank will oversee the establishment of plantations for medicinal plants and implement five pilot processing projects in 2025. Overall, a $1 billion project portfolio will be developed, prioritizing the production of high-quality, affordable medicines to boost competition and accessibility.
During the meeting, industry representatives shared their insights and proposals to enhance production, improve product quality, expand exports, and integrate scientific and educational advancements into the sector. President Mirziyoyev’s initiatives underscore Uzbekistan’s commitment to becoming a leading player in the global pharmaceutical industry while ensuring affordable access to high-quality medicines for its citizens.
