Virtual Healthcare & Hygiene Expo 2020
11:00 | 26/07/2020 Cooperation
(VEN) - Vietnam and India have great potential for boosting cooperation, trade and investment in pharmaceuticals and healthcare.
A delegation of Vietnamese pharmacists, doctors and business people at the 2019 International Exhibition & Conference on AYUSH & Wellness in New Delhi, India
Healthcare fairs and events
The Virtual Healthcare & Hygiene Expo 2020 held by the Federation of Chambers of Commerce and Industry (FICCI) from June 22 to 26 was India’s first virtual healthcare fair and one of the first in the world. Some 15 Vietnamese firms displayed their wares.
The fair focused on displaying and introducing products, services, technology, machinery and equipment in the fields of traditional medicine; functional food; healthcare and beauty; medicine and pharmaceuticals; medical equipment; face masks and personal protective equipment; hand sanitizers, hygienic cosmetics and other healthcare products.
Vietnam’s Ambassador to India Pham Sanh Chau said virtual fairs offer the best way for Vietnamese businesses to approach global partners at low cost amid the ravaging Covid-19 pandemic.
The Embassy of Vietnam in India organized a booth and provided support for about 15 Vietnamese businesses participating in the fair, such as Viet A Technologies Joint Stock Company, Thai Duong Star Joint Stock Company, Danameco, Memco, Giang San Investment Pte, Sun Health Trading Production Joint Stock Company, Medpoint Healthcare, and Viet Duc Investment Services and Import-Export Production Company Limited.
Vietnamese doctors working at major hospitals, such as Military Hospital 175, Hanoi French Hospital, 108 Military Central Hospital and Vinmec also participated in the fair to learn about new technologies and future treatment trends.
The fair provided good opportunities for Vietnamese businesses to promote their products and services to not only Indian customers but also to over 1,000 participants from other countries in the world, and to seek reliable partners.
Vietnam and India signed a memorandum of understanding (MoU) on health cooperation in September 2016. Moreover, the Consulate General of India in Ho Chi Minh City cooperated with the Indian Business Chamber in Vietnam (INCHAM) to organize trade exchanges between more than 40 Indian companies and Vietnamese pharmaceutical businesses in Ho Chi Minh City in 2018.
According to the Consulate General of India in Ho Chi Minh City, Vietnam is an important market for India’s herbal products and medicines. It is among the most dynamic and rapidly-growing economies in Asia, with increasing incomes and healthcare demand. Vietnam is also an attractive destination of international medical tourism, prompting the growth of several healthcare centers to meet the demand.
India currently ranks third and 14th globally in pharmaceutical volume and value, respectively. Leading Indian pharmaceutical companies have received international certificates from the US, the EU and Australia. The manufacturing of medical devices, surgical equipment and pharmaceutical machinery in India has been thriving. The size of India’s medical equipment market is currently valued at US$5 billion and is expected to reach US$11 billion in 2022.
Vietnam consumes an average of 60,000 tonnes of pharmaceutical products per year, mainly imported from India. In addition to finished products, India also supplies pharmaceutical raw materials to the Vietnamese market. Medicines and raw materials imported from India are sold at reasonable prices, meeting the diverse needs of Vietnamese people, especially those in remote areas. Therefore, the possibility of cooperation between Vietnamese and Indian businesses in the pharmaceutical industry is large.