Over 400 New Medicines to Be Produced in Kazakhstan

During a meeting of the Foreign Investors Council chaired by Prime Minister Olzhas Bektenov, Minister of Healthcare Akmaral Alnazarova reported on efforts to improve public access to pharmaceuticals.

According to the Minister, new investment mechanisms have been developed in collaboration with investors, taking into account the country's needs and demographic forecasts for the next 10–15 years. These new "investment agreements" provide not only tax and customs incentives and infrastructure support but also long-term off-take guarantees for products.

To date, the Government has approved six investment projects totaling $620 million (316 billion tenge).

"First and foremost, this is a matter of Kazakhstan's overall pharmaceutical sovereignty. More than 400 new medicines will be produced in Kazakhstan within the next 2 to 4 years," stated Akmaral Alnazarova.

Over the past two years, investment in the pharmaceutical industry has doubled, rising from $47 million to $87 million. These new projects are expected to create more than 1,000 new jobs.

Additionally, as of January 1, the import and sale of medicines and medical services within the framework of the State Guaranteed Benefit Package (SGBP) and Mandatory Social Health Insurance (MSHI) are exempt from VAT. Amendments have also been prepared to strengthen control and responsibility for the circulation of counterfeit drugs.