JEDDAH: Saudi Arabian pharmaceutical firm Jamjoom Pharma has signed a memorandum of understanding to enter the Uzbekistan market, as the firm continues its expansion into the Central Asian region, the company's vice chairman said.
In an exclusive interaction with Arab News on the sidelines of the fourth meeting of the Saudi-Uzbeki Business Council in Jeddah, Mahmoud Jamjoom, vice chairman of Jamjoom Pharma, said that launching its operations in Uzbekistan is a gateway to the region.
“What we have invested in Egypt is more than 1 billion Egyptian pounds ($52 million)...So, in the health sector, it will be like this, in the range of this investment.”
He added: “When our product is accepted locally and in the region, this will make us do our project happily in Uzbekistan.”
Jamjoom went on to say operations in Uzbekistan will begin once they receive approvals from regulators.
“Already, we are in 30-plus countries. Now, we are trying to focus on this area (Central Asia). We are covering Uzbekistan, Afghanistan, and Turkmenistan. So, this will be the gate to cover the area,” he said, adding: “We will be submitting the files. We will then start presenting the product in Uzbekistan. And step by step, we will have local manufacturing.”