Kyrgyzstan’s Cabinet Approves Pharmaceutical Complex Construction
Kyrgyzstan Approves Construction of Pharmaceutical Complex
In a recent meeting of the Cabinet of Ministers of Kyrgyzstan, the construction of a new pharmaceutical complex was approved. The investment project, presented by Minister of Economy and Commerce Bakyt Sydykov, includes the construction of several key facilities within the complex:
– A workshop for the production of general medicinal preparations
– A workshop for medical products
– A gelatin workshop
– Ancillary research and development centers
The project will be implemented in two stages over a period of five years. Stage I, scheduled for 2024-2027, will focus on constructing a general medicinal preparation workshop, quality inspection center, and warehouse. Stage II, planned for 2027-2030, will involve building a gelatin workshop, a research and development center, and starting the production of gelatin for animals. The total estimated investment for both stages is at least $41.2 million.
Minister Sydykov highlighted the importance of this project in creating new job opportunities for local residents. Once both project phases are completed and production reaches full capacity, it is expected to generate 300 new jobs. Additionally, the construction of the complex is expected to attract new investors due to the rapid technological advancements in the pharmaceutical sector.
Moreover, the implementation of this investment project is a crucial step towards reducing the Kyrgyz Republic’s dependence on imported medicines. Minister Sydykov emphasized the significance of ensuring national drug security, especially in light of the challenges faced during the COVID-19 pandemic, such as shortages and price hikes for imported medications. The pharmaceutical plant is set to produce a variety of essential medicines, addressing the need for locally produced drugs that are currently in short supply.
The project will span an area of approximately 11 hectares, with a total construction area of 50,000 square meters. Standard Pharm Group LLC, a joint venture between Kyrgyz company Kvarta LLC and Chinese investment firm Rizhao Juntai, with an authorized capital of 1 billion soms, will oversee the construction and operations of the pharmaceutical complex.
Overall, the approval of this pharmaceutical complex project marks a significant milestone in enhancing the local pharmaceutical industry, providing job opportunities, and strengthening the country’s drug security.
