The Belarusian pharmaceutical industry belongs to actively developing segments attractive for investors.
Interest in the creation of business in the Belarusian pharmaceutical industry is caused by the large capacity of the market of the five EAEU countries, highly-skilled personnel, as well as by tax incentives for investors. The market of medical services, equipment and medicines in Belarus and EAEU countries is growing steadily. The volume of the pharmaceutical market of the Russian Federation is estimated at 30 billion US dollars, and Kazakhstan – 1.9 billion US dollars.
To support local producers, tax privileges are provided – exemption from value added tax for producers of certain types of pharmaceutical products and medical equipment.
In addition, favorable factors for the development of cooperation in the pharmaceutical industry are:
- harmonization of legal requirements in the sphere of medicinal products circulation with EU requirements;
- scientific potential of the biotechnological branch: developments of the institutes of the Academy of Sciences and higher educational institutions in the field of genomic biotechnologies, veterinary science, agricultural biotechnologies.