Tashkent, Uzbekistan (UzDaily.com) — A meeting took place between the Deputy Prime Minister of the Republic of Uzbekistan, Minister of Economy and Finance Jamshid Kuchkorov, and the CEO of the Turkish company BATTAL Holding, Mehmet Berat Battal.

BATTAL Holding was founded in 1958 in Istanbul. It includes the company Turk Ilac ve Serum Sanayi A.S., which specializes in the production of specialized liquids, vaccines, antibiotics, vials, and ampoules.

As of 2022, the company’s annual revenue is US$200 million. Over the past five years, the company has demonstrated an average financial growth rate of 15%. Its products are exported to more than 30 countries.

During the meeting, the importance of developing mutually beneficial relations in six key sectors, including the pharmaceutical industry, was emphasized. The need to study international experience and modern approaches in these areas was also highlighted.

The parties discussed the development of the healthcare system in Uzbekistan, particularly the creation of new projects in the pharmaceutical sector, the introduction of modern technologies, the localization of drug production, and prospects for further mutual cooperation.

Additionally, during the meeting, a Memorandum of Understanding was signed between BATTAL Holding and the Agency for the Development of the Pharmaceutical Industry of Uzbekistan to implement a project for the production of parenteral drugs in Uzbekistan.

According to preliminary calculations by the foreign investor, the project will cost US$30 million, which will allow for the creation of 500 jobs and the annual production of 80 million units of pharmaceuticals.

During the discussions, there was also an exchange of opinions on the activities of BATTAL Holding, its production scale, experience, and potential. As a result of the negotiations, the parties agreed to further develop and strengthen mutual relations, as well as to ensure systematic and effective work to achieve the set goals.