PXL/HO/Cir-006/2019-20 Date: 25.04.2019
Subject: Local Representative for Investment Opportunities in Uzbekistan
In recent times, Uzbekistan and India are striving to forge a greater collaboration in pharmaceuticals sector. While India has pitched the opportunities on the Make in India turf, Uzbekistan has offered plethora of incentives to attract investments from India in Pharmaceutical Sector. Through sustained bilateral interactions and institutionalized framework of Joint Working Group the opportunities for pharma sector for both Indian Uzbekistan looks highly promising.
We wish to again inform the members that a Uzbekistan has established unique investment climate and is willing to offer unprecedented incentives for Indian pharmaceutical companies, who are interested in getting to their market.
Salient points of the investment facilitation are as follows:
· There are Seven new Free Economic Zones for Pharma sector
· Exemption from all taxes and customs duties are available for Joint Ventures for a certain period
· In the initial stages, Uzbekistan Government is encouraging packaging facilities to be established by Indian companies.
· The maximum demanded level of localization is 36 percent, which could be reached in next 3-4 years. Rest of the semi-ready products could be further continuously imported from their factories in India on duty-free basis.
· Uzbekistan has a Free Trade Agreements with CIS countries, Georgia and Ukraine, which helps in reaching the growing market of Central Asia and Afghanistan and other CIS countries.
We take this opportunity to inform our members that Agency on Development of the Pharmaceutical Industry, Ministry of Health of the Republic of Uzbekistan has authorized a nodal point of contact in India. Mr. Kariev Sardor Khikmatullaevich, representing the Ministry of Healthcare of the Republic of Uzbekistan as acting deputy minister and acting director of the Agency on development of the pharmaceutical industry under the Ministry of Healthcare of the Republic of Uzbekistan has authorized Dr. Basava Bhaaskara, Director of Roerich Healthcare Pvt as their representative for business development and attracting foreign investment in India, to perform the following actions on behalf of the Agency for the Development of the Pharmaceutical Industry under the Ministry of Health of the Republic of Uzbekistan:
· to negotiate to create an enabling environment and strong partnerships with suppliers and foreign partners;
· attract foreign investment and partners to create joint ventures in Uzbekistan.
A copy of the authorization letter is as attached.
Interested members may like to contact the nominated representative directly. The information is being disseminated by Pharmexcil to members for the favour of information only.
With best regards