Construction of a pharmaceutical complex has been approved today, December 30, at a meeting of the Cabinet of Ministers of Kyrgyzstan.
As the Minister of Economy and Commerce Bakyt Sydykov reported, the investment project provides for the construction of:
- A workshop for the production of general medicinal preparations;
- A workshop for medical products;
- A gelatin workshop;
- Ancillary research and development centers.
The investment project will be implemented in two stages over five years:
- Stage I (2024-2027): Construction of a general medicinal preparation workshop, a quality inspection center and a warehouse;
- Stage II (2027-2030): Construction of a gelatin workshop, a research and development center and the production of gelatin for animals.
The total estimated investments at two stages is at least $41.2 million.
«The launch of the production of pharmaceutical packaging and the pharmaceutical complex will provide local residents with new jobs. Upon completion of the first and second phases of the project and reaching the design capacity of production, 300 new jobs will be created. In addition, construction of the complex will have a multiplier effect in attracting new investors, given the rapid development of technologies in the pharmaceutical sector,» Bakyt Sydykov said.
He added that the implementation of the investment project will be an important step aimed at reducing import dependence in medicines of the Kyrgyz Republic.
«The issue of drug provision of the population is important and sensitive for the country. The share of the pharmaceutical industry in the total volume of industry is insignificant and amounts to 0.2 percent.
It should be taken into account that since the beginning of the COVID-19 pandemic and the closure of the borders of neighboring states, there has been an acute shortage of medicines and there have been cases, when prices for imported drugs increased ten times. To ensure national drug security, there is a need to increase the volume of own production. The pharmaceutical plant is planned to produce nutrient infusions, antibacterial and anti-inflammatory, antipyretic and analgesic, hypoglycemic and antilipemic, gastrointestinal solid preparations and other drugs, most of which will be from the National List of Essential Medicines of the Kyrgyz Republic, as well as drugs not produced in the republic.
The project occupies an area of about 11 hectares with a total construction area of 50,000 square meters,» the minister explained.
Standard Pharm Group LLC project is a joint venture of the Kyrgyz company Kvarta LLC (shareholding — 32.8 percent) and the Chinese investment firm Rizhao Juntai (shareholding — 77.2 percent) with an authorized capital of 1 billion soms. The project of Standard Pharm Group LLC is a joint venture of Kyrgyz company Kvarta LLC (share of 32.8 percent) and Chinese investment firm Zhizhao Juntai (share of 77.2 percent) with the authorized capital of 1 billion soms.
