Himont Group plans pharma investment in Uzbekistan

Tashkent, Uzbekistan (UzDaily.com) — Pakistan-based Himont Group is considering launching a pharmaceutical production project in Uzbekistan following discussions held during a visit to Lahore by Uzbekistan’s Ambassador Alisher Tukhtaev, according to the “Dunyo” news agency.

The talks took place with the company’s President and Chief Executive Officer Ahmed Siddiqi and focused on expanding economic cooperation between Uzbekistan and Pakistan, with particular emphasis on the pharmaceutical sector.

Both sides discussed prospects for attracting foreign investment, implementing joint projects, and localizing the production of essential medicines that are currently imported.

The Pakistani side was briefed on Uzbekistan’s current business environment, including tax incentives, benefits for foreign investors, and the infrastructure of pharmaceutical clusters.

Ahmed Siddiqi noted that he had previously visited Uzbekistan and explored potential joint pharmaceutical projects. However, he said that in the early years after independence, infrastructure limitations prevented implementation of such initiatives.

He added that since 2017, Uzbekistan has implemented large-scale reforms that have significantly improved the investment climate.

In this context, the company expressed interest in launching pharmaceutical production in the country.

The proposal includes the possible establishment of a modern pharmaceutical facility with an estimated value of around 3 million US dollars, based on a joint partnership model involving local companies and market analysis of Uzbekistan’s pharmaceutical sector.

The discussions also covered the introduction of modern technologies, production of high-demand medicines, exchange of specialists, and training programs to improve professional skills.

At the conclusion of the meeting, both sides agreed to hold online negotiations involving relevant Uzbek government agencies to further elaborate the proposals.

Founded in 1994, Himont Group specializes in pharmaceutical production, including herbal medicines and dietary supplements. The company currently produces more than 230 products and has held GMP certification since 1995.