As part of the activities carried out to support the development of domestic production of pharmaceutical and medical products, the Single Distributor SK-Pharmacy LLP takes the initiative to provide a platform for major brands to enter the country from packaging to the full production cycle.
Thus, in order to attract foreign investors to the domestic market, the Single Distributor and Industrial Development Fund JSC signed a Memorandum of Understanding and Cooperation in order to create conditions for the development of the medical and pharmaceutical industries.
The parties have identified a number of areas for mutual cooperation, including financing of import substitution projects and assistance in increasing the export potential of domestic goods manufacturers in the production of medicines, medical devices and medical equipment.
As the Head of State noted in his Address to the people of Kazakhstan, the most important task facing Kazakhstan is the full disclosure of its industrial potential. Thus, the Government has been given tasks to increase the competitiveness of enterprises in the domestic and foreign markets.
It should be noted that Kazakhstan has investment advantages, such as geostrategic position, transit and logistics potential, rich resource base, international trade and investment agreements, as well as access to major world markets.
The President of the country instructed to expand the volume and range of off-take contracts with domestic producers. The share of medicines and medical products of domestic production must be increased from the existing 17% to 50% by 2025. In addition, it was instructed to centralize the medical equipment procurement on the basis of the Single Distributor, following the example of the procurement of medicines.
Industrial Development Fund JSC implements state programs aimed at supporting domestic enterprises aimed at achieving target indicators of the effectiveness of state programs. Therefore, within the framework of the memorandum, such tasks were set as the re-equipment of medical organizations, as well as the financing of import substitution projects and export-oriented industries in the production of medicines, medical devices and medical equipment.
The Single Distributor and Industrial Development Fund JSC agreed to make a significant contribution to the implementation of industrial and innovative strategic programs for the sectors of the economy of the Republic of Kazakhstan, and of course to the growth of competitiveness and development of the potential of the medical and pharmaceutical industry.
In turn, the Industrial Development Fund JSC will aim to provide affordable financing for domestic enterprises. The priority is the implementation of strategic investment projects for the localization and import substitution of high-tech medical equipment and pharmaceutical products. These areas are open for investment, including within the framework of concluding long-term contracts with domestic producers. Such projects will receive full support from the state.
Within the framework of the Memorandum, cooperation will be worked out with representatives of BigPharm to localize production in the territory of the Republic of Kazakhstan. In addition, the production of medical equipment and consumables will be actively developed. Industrial Development Fund JSC is ready to consider the issue of creating a financial instrument for medical organizations to equip medical equipment and participate in the 5-year equipment program.
“Within the framework of the signed Memorandum, it is planned to develop specific projects. I am sure that this joint step will contribute to the improvement of work in the implementation of projects with a high socio-economic effect in order to improve the provision of the population with high-quality medicines and medical equipment” said Yerkhat Iskaliyev, Chairman of the Board of the Single Distributor.
Noting the value of the upcoming cooperation, the Industrial Development Fund JSC welcomes the desire of the Single Distributor to contribute to the strategic development of the country's medical and pharmaceutical industry and expressed confidence that joint efforts will help ensure a qualitative level of development of the medical and pharmaceutical industry. All these development priorities are especially important for the implementation of strategic programs aimed at the industrial and innovative development of economic sectors.
Reference:
SK-Pharmacy LLP is the Single Distributor for the procurement of medicines and medical devices within the guaranteed volume of free medical care (GVFMC) and in the system of compulsory social health insurance (SCSHI).
Industrial Development Fund JSC is a subsidiary of the Development Bank of Kazakhstan JSC and is part of the Baiterek National Managing Holding JSC, established on September 6, 2005 in order to expand the instruments provided by the Development Bank of Kazakhstan JSC for financing investment projects.
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