The Embassy of Uzbekistan has organized virtual talks between the representatives of the Ministry of Investments and Foreign Trade of Uzbekistan and South Korea’s Hanwoo Global Co., Ltd.

The parties discussed the implementation of the investment project at the Yuma Bio joint venture for the production of medicines based on the processing of medicinal herbs, roots and food products.

The total amount of the project at the initial stage is $5 million. To date, the construction of facilities under the project has been completed by 95%, production equipment has been delivered and the installation process has started. It will produce more than 50 high-value-added products based on local raw materials. At the same time, taking into account the demand for medicines in the market of Central Asian countries and other regions, 80% of the manufactured products will be exported.

The Uzbek side expressed support for the implementation of this investment project, which is innovative and high-tech. The use of only local raw materials in the technological process, as well as the export orientation of the products planned for production, was emphasized. It was noted that the implementation of this investment project will allow the diversification of the range of pharmaceutical products in Uzbekistan.

Following the talks, the parties agreed on further stages of the project implementation.

UzA