On July 21, the national company Kazakh Invest conducted a meeting with the Egyptian healthcare investments holding company ACDIMA to discuss the construction of a pharmaceutical plant in Kazakhstan, QazMonitor reports citing the national company's press service.
During the meeting in Astana, Zhandos Temirgali, the deputy chair of the board of Kazakh Invest, met with the Egyptian delegation led by Olfat Ghorab, the chair of ACDIMA's board of directors. The delegation also comprised Ahmed Kelani (Chair of Eipico), Ahmed Lila (Chair of Medical Union Pharmaceuticals), Ali Ghamraw (Chair of Sedico Pharmaceutical), and Hesham Abdel Aziz (Chair of October Pharma).
The Egyptian investors are presently in the process of selecting a local partner for the construction project, and they are considering several regions for the implementation of this venture.
Ghorab expressed that ACDIMA chose Kazakhstan due to its favorable investment climate, convenient location, and access to the vast Eurasian markets. She emphasized the company's awareness of the project's social significance and its commitment to transferring technology and providing training for local staff, including through foreign internships.
In this regard, the Kazakh side proposed the idea of establishing a regional hub for the Egyptian company in Kazakhstan, with subsequent exports to neighboring countries. Zhandos Temirgali highlighted the significant opportunities for import substitution, considering that the domestic pharmaceutical market in Kazakhstan is approximately $2 billion, of which only 16% is currently produced within the country.
ACDIMA is an Egyptian holding company established in 1976, specializing in the production of pharmaceutical products and medical equipment. The company's annual production volume exceeds 600 million units, encompassing more than 40 pharmaceutical groups and approximately 1200 registered drug names. ACDIMA's products are distributed in 80 countries across the globe.