Current issues in the development of the pharmaceutical and electrical industries discussed

President Shavkat Mirziyoyev chaired a meeting on further support for production and increasing export potential in the pharmaceutical and electrical industries.

Uzbekistan has the necessary raw materials and sufficient conditions for developing these industries. In particular, pharmaceutical production has increased 3 times over the past six years, and exports have increased 6 times. 177 projects worth $525 million were launched, and 50 thousand jobs were created.

However, this does not correspond to the existing potential. Thus, medicines worth $1.6 billion are consumed annually in the country. The share of domestic producers is only 18 percent, and imports provide the rest.

In this regard, particular attention at the meeting was paid to the development of local production.

“In recent years, this industry has received great support, and large funds have been allocated, pharmaceutical zones have been created. But they are not fully used. It is necessary to expand localization, support entrepreneurs’ projects, and ensure the purchase of their products. This is based on jobs and people’s satisfaction”, Shavkat Mirziyoyev said.

In this regard, the importance of studying foreign experience and attracting famous brands to Uzbekistan was emphasized. In particular, instructions were given to increase localization to 35 percent by organizing the production of the 50 most commonly consumed drugs in the country.

The need to accelerate the construction of the Tashkent Pharma Park cluster and attract a private partner was emphasized. Also, pharmaceutical companies will be assisted in transitioning to the international GMP standard and creating a labeling system.

In general, the industry has formed 173 projects worth $1.5 billion. $600 million will be allocated to finance them.

Responsible officials noted that as a result of the implementation of the projects, production worth $400 million and exports worth $160 million will be established in 2024.

Issues related to the electrical industry were also discussed at the meeting.

Over the past six years, 224 projects worth $640 million have been launched in this sphere. Exports are expected to reach $1 billion by the end of this year.

At the same time, electrical products worth $800 million are imported to Uzbekistan annually. Overall, our region has a $3 billion worth market.

It is necessary to establish cooperation with prestigious brands and produce competitive products to take a worthy place in this market. This will be a significant focus of 141 projects worth $2 billion planned for next year.

This year, 2 gigawatts of solar and wind power plants will be commissioned, and another 4 gigawatts in 2024. They need a lot of cables, generators, inverters, and transformers. The task was set to localize these products and obtain international quality certificates.

It was determined that $100 million will be allocated for government support to introduce advanced technologies, innovations, and international standards.

Responsible persons reported on plans to increase production by 20 percent next year and increase the volume of copper processing to 140 thousand tons. It was also noted that there is an opportunity to increase exports to $1.5 billion, and in 2025 – to $2 billion.

At the meeting, proposals from regional hokims and entrepreneurs for the development of the discussed industries were heard.

UzA