Wednesday, 06 July 2022

Kyrgyzstan invites Indian pharma companies to set-up units

01 October 2021 | News

Offering free land and power in Kyrgyzstan to set up manufacturing facilities

Indian pharmaceutical companies are being offered free land and power in Kyrgyzstan to set up their manufacturing facilities. This information was shared by Asein Isaev, Ambassador, Embassy of Kyrgyzstan.

 

“Our government is willing to provide free land and electricity to Indian pharma companies willing to set up a plant in Kyrgyzstan,” the Ambassador said speaking at an interactive session organised jointly by the Visvesaraya Industrial Research and Development Centre (MVIRDC) World Trade Center Mumbai, All India Association of Industries (AIAI) and Indian Chamber of International Business (ICIB).

 

There is a blanket tax holiday for the first five years and companies located in Kyrgyzstan enjoy preferential market access to a population of more than 1 billion across Central Asia, CIS, European Union and other countries, he said adding that so far Indian pharmaceutical companies have signed over 35 joint ventures with the Central Asian nation.

 

The new Kyrgyzstan government is committed to protecting the interests of foreign investors, who can open a company in just two steps and can get all mandatory licenses in eight days, Isaev said.

 

Dr Vijay Kalantri, Chairman, MVIRDC World Trade Center Mumbai said, “We should resolve to triple India-Kyrgyzstan bilateral trade volume in the next three years as the current level of $44 million is below the true potential.”

 

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