Uzbekistan, Belgium's Allegro BIO Explore New Biotech Investment Opportunities

2025-11-26 07:05:39

(MENAFN- Trend News Agency) TASHKENT, Uzbekistan, November 26. Uzbekistan and the Belgian biotechnology company Allegro discussed prospects for expanding cooperation in pharmaceuticals and biotechnology, focusing on the development of high-value-added innovative projects and the promotion of joint research and development initiatives, Trend reports via Uzbek Ministry of Investment, Industry and Trade.

These issues were discussed at the meeting between Akram Aliyev, Deputy Minister of Investment, Industry, and Trade of Uzbekistan, and Lucas Decuypere, CEO of Allegro BIO.

Particular emphasis was placed on the company's plans to establish biotechnological product manufacturing in Uzbekistan, launch a dedicated research and development (R&D) center, and relocate several ongoing R&D projects to the country. The Uzbek delegation provided detailed information on available investment incentives, opportunities within pharmaceutical free economic zones, and practical considerations for accessing export markets.

The parties reiterated their commitment to advancing investment initiatives, developing collaborative manufacturing projects, and enhancing cooperation in scientific research.

In 2024, bilateral trade between the two countries reached $62.3 million, comprising $7.3 million in Uzbek exports and $55 million in imports.

MENAFN26112025000187011040ID1110400333

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.