️ Uzbekistan has expanded tax and financial incentives for enterprises in the pharmaceutical industry. The decision was made following appeals from entrepreneurs who pointed out that not all regions of the country have pharmaceutical clusters, preventing some companies from benefiting from existing preferences.

️ During a video conference meeting chaired by President Shavkat Mirziyoyev, the president supported the proposal to extend incentives to a larger number of enterprises and announced new opportunities for the sector. Starting April 1 of this year, projects for the production of pharmaceutical drugs, cultivation, and processing of medicinal plants will be exempt from land tax for three years, regardless of their implementation location.

️ After project launch, entrepreneurs will not pay profit and property taxes for three years. Additionally, producers of biologically active additives and cosmetic products will be exempt from customs duties on the import of raw materials, equipment, spare parts, and components. Pharmaceutical enterprises will be allowed to produce biologically active additives on their own production lines.

️ Annually, by July 1, a list of medicines and medical devices recommended for localization of production in the country will be published for entrepreneurs. Projects for producing drugs from this list will receive loans in foreign currency at an annual interest rate of 7%. Companies planning to deepen the localization of already produced products can obtain financing from the Industrial Cooperation Fund—for up to 10 years at 6% annually in foreign currency and 12% in national currency.

️ By 2030, the share of domestic drugs in Uzbekistan's internal market is projected to reach 70%, and within the next five years, the volume of product exports is planned to be increased to $1 billion.

Source: podrobno.uz