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Vietnam Business » Vietnam Business News » Opens the way for the growth of drug production in Vietnam

Opens the way for the growth of drug production in Vietnam

Domestic and foreign investors for the production of drugs call opens the way for the growth of drug production in Vietnam. The Ministry of Health (MoH) is calling for domestic and foreign investors to return to work to eight patients. These include two projects for the production of materials with antibiotic-Mekophar and worth $ 70,000,000 to Ampharco USA.

Others are packaging a project Vipaco and Tan Thanh Phat Company, a natural compound extracted VCP Company, the production of vaccines Vabiotech Company and a plan for manufacturers of medical devices Cao Minh Quang, Deputy Minister of Health, said that foreign investment in the sector to 90 percent of imported raw materials production and pharmaceutical production was limited requires large amounts of investment. The MoH is to develop a detailed project Vietnamese pharmaceutical industry in 2015 with a vision to 2020, focusing on zoning, management of medicinal plants with the standards and promote the production of generic drugs, prices for the products of the local market to reduce. "We are the local production of drugs that target to 70 percent of demand in 2015 and 80 percent coverage by 2020," said Quang. EuroCham in Vietnam Vietnam has said that good progress with the clarity and quality of registration for the manufacture of drugs. However, answer a fast-track procedure to register drug urgent needs could be seen standard applications for pharmacies in the general practice of pharmacy will be implemented from 2011. "Can be created since January 2009, after the World Trade Organization agreement, 100 percent foreign pharmaceutical companies. But the limited scope of the divested business still restricts imports of foreign investment and rights of drug companies allow acceleration of investments to invest in foreign companies in Vietnam," said a official of the EuroCham. Keshav Dayalani, vice president of the Indian Business Chamber (Incham) said that Vietnam should promote high-tech products to the incentives for exports and the development of infrastructure for the development of drugs. "Our proposals for investment in Vietnam is a shift from mass sales to production quality, set up high-end diseases and the development of niche products," said Dayalani. The country had reported, 39 drug projects of foreign investment by the end of 2009, of which 26 projects with total registered capital of $ 302,600,000 operating system. Of these 23 projects is the production of medicines, while others focus on the conservation of medicine. Foreign-invested value of the production facilities, which 28 percent of the total production of drugs in the country. However, there is no foreign investment projects in pharmaceutical chemistry and drug material. "We urge the Government, its packaging, pharmaceutical and mining natural link in the list of projects, with special incentives for investments in Vietnam are complementary," said Quang. The local production of medicines in almost half of the demand made in Vietnam. The per capita drug consumption in Vietnam was $ 19.7 in 2009, one year on-year by 20.1 percent. The IMS Meridian Research Vietnam estimates of drug use per capita in Vietnam will double in five years and the value of the production of drugs in Vietnam 1900000000 dollars in 2011 from 1.6 billion dollars this year and $ 1,100,000,000 in 2009.

Vietnam Business And Financial News Network. Source [english.vietnamnet.vn]

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