Customs benefits for pharmaceutical companies to be extended until 2028

During his visit to Tashkent Pharma Park, President Shavkat Mirziyoyev met with the heads of pharmaceutical companies and outlined the formation of a new project portfolio worth $1 billion, according to the president's press service.

Until 2025, Asaka Bank and the Pharmaceutical Industry Development Agency, in collaboration with major enterprises, will develop a program for the production and release of 200 types of medicines. A total of $400 million, raised on preferential terms, will be allocated for the implementation of such projects.

Additionally, an investment fund will be created to implement projects in the fields of biopharmaceuticals, cell technology, and oncology. Asaka Bank will also be allocated a $100 million credit line to support these projects. The bank will establish a venture company with a capital of $10 million to finance startups and commercialize new developments.

According to the press service, the customs benefits for local pharmaceutical enterprises, which are set to expire on January 1, 2025, will be extended for another three years. Moreover, entrepreneurs' expenses for obtaining certifications from the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA) will be covered by the budget to expand exports.

As part of Asaka Bank’s projects, 5-hectare plantations of medicinal plants will be established for each type, and five pilot projects for their processing will be implemented in 2025.

To support the development of the pharmaceutical industry in the country, a project portfolio worth $1 billion is planned to be formed.