Ministry of Investment, Industry and Trade of the Republic of Uzbekistan

As part of the fifth anniversary edition of the Tashkent International Investment Forum (TIIF), organized under the coordination of the Ministry of Investment, Industry and Trade of the Republic of Uzbekistan, a dedicated panel session entitled “Strengthening Healthcare Systems and Advancing Innovation in Pharmaceuticals and Medical Technologies” brought together government officials, international experts, investors, and industry leaders to discuss the future of healthcare and pharmaceutical innovation.

The high-level session focused on Uzbekistan’s ambition to become a leading regional hub for pharmaceuticals and medical technologies, attracting foreign investment and accelerating the implementation of innovative healthcare solutions.

Throughout the discussion, participants highlighted the country’s sustainable economic growth and the significant potential of its pharmaceutical sector. Director of the Pharmaceutical Industry Development Agency, Abdulla Azizov, emphasized that Uzbekistan’s economy has maintained an average annual growth rate of over 6 percent during the past nine years, while GDP growth reached 8.4 percent in the first quarter of the current year. According to him, the country’s population is expected to exceed 40 million by 2030, substantially increasing demand for high-quality healthcare services and pharmaceutical products.

Speaking about regional opportunities, Azizov noted:

“The Central Asian market, with a population of 120 million people, is valued at approximately USD 11 billion, yet 92 percent of pharmaceutical products are currently imported. We have established the Bio Pharma City cluster, where investors are provided with land virtually free of charge, while the government delivers all necessary infrastructure. Furthermore, investors committing more than USD 10 million are fully exempt from corporate income tax, land tax, property tax, and water-use tax.”

Representatives of international companies also presented innovative projects planned for implementation in Uzbekistan.

In particular, Lucas Decuypere, Chief Executive Officer of the Belgian biotechnology company Allegro NV, introduced a breakthrough approach to treating osteoarthritis, a condition affecting nearly one billion people worldwide. He explained that the company has developed a sterile injectable syringe containing a proprietary biopolymer that improves joint biomechanics, with clinical performance reported to be three times more effective than existing alternatives on the market.

“Our primary objective is to postpone the need for knee replacement surgery from approximately five years to as much as fifteen years. Looking ahead, we plan to establish a state-of-the-art research and manufacturing facility in Uzbekistan capable of producing millions of syringes annually,” said Decuypere.

The session also addressed opportunities for processing locally sourced raw materials and expanding export potential.

Rashod Odilboyev, head of “So‘x Shafran Export”, presented a major agro-industrial initiative currently being implemented in the Sokh district of the Fergana region. According to him, saffron cultivation—recognized for its significant health benefits—is being expanded from 5 hectares to 60 hectares. He noted that advanced South Korean technologies are being introduced into the production process, with the primary objective of processing premium-quality saffron for export to international markets.

In conclusion, participants noted that growing international investment and technological innovation in Uzbekistan’s pharmaceutical and medical technology sectors will not only strengthen the national healthcare system but also contribute directly to the socio-economic development of the country’s regions.

The discussions held within the framework of the Tashkent International Investment Forum demonstrated that, supported by an attractive investment environment, comprehensive government incentives, and the integration of advanced international technologies, Uzbekistan is steadily emerging as one of the world’s promising new centers for the pharmaceutical and medical technology industries.