UAE Pharma company attends recent business forum in Tashkent
Julphar is eyeing Uzbekistan as a potential new market, following its participation in the Uzbekistan-UAE Business Forum.
The forum was recently held in the Uzbek capital, Tashkent, with the goal of strengthening cooperation between the business communities of the two countries and developing bilateral trade, economic and investment ties.
During the forum, which was attended by more than 80 senior officials, ministers and business leaders from both countries, Julphar expressed its interest in the local pharmaceutical market.
Irfan Nabi Sheikh, Intercontinental Region Director, Julphar, said the company hoped to leverage its already strong presence in the region by forging new relationships that added value to the business and helped provide affordable healthcare solutions to families.
“Central Asia is a very important region for us. It has seen some of the fastest economic growth in the world. The region is welcoming new investors, reform processes are under way and the region is opening up to the world,” noted Sheikh.
According to a report issued last month by Fitch Solutions, a unit of ratings agency Fitch, Uzbekistan’s market development is continuing at pace, driven by a number of government policy changes to improve access to medicines.
The report noted the country’s plans to accelerate the development of its pharmaceutical market by establishing Uzbekistan as a pharmaceutical manufacturing hub within the Central Asia region, improving access to socially significant medicines and bringing the country’s pharmaceutical regulations in line with international standards.
