Vietnam encourages investment from EuroCham pharmaceutical businesses

09:00 | 27/06/2017 Cooperation

On June 22 in Hanoi, Head of the Central Economic Commission Nguyen Van Binh held a reception for a delegation of the European Chamber of Commerce in Vietnam (EuroCham)’s Pharmaceutical Sector Committee (Pharma Group).

vietnam encourages investment from eurocham pharmaceutical businesses
The meeting between Head of the Central Economic Commission Nguyen Van Binh and Eurocham's Pharmaceutical Sector Committee

At the reception, Head of the Central Economic Commission Nguyen Van Binh Vietnam said Vietnam encourages international pharmaceutical businesses, including members of EuroCham, to extend their investment and establish research centres in the country.

Highly appreciating activities of Eurocham's pharmaceutical businesses in Vietnam in recent period, Nguyen Van Binh said participating businesses are all well-known in the international market and have great potential to extend their presence in Vietnam.

He added that Vietnam attaches significant importance to the comprehensive implementation of social policies and pays attention to providing easy access to health care services and medicines at reasonable prices.

Binh exchanged opinions with the delegation on the major directions and solutions implemented by the Vietnamese Party and Government in order to improve the business environment, raise competiveness and encourage enterprises to roll out their operations on a larger scale, particularly in the pharmaceutical sector. He added that Vietnam wants to become a centre for pharmaceutical production in ASEAN.

On behalf of the EuroCham delegation, Pharma Group Vice President, Nicholas Jones, who is in charge of the Vietnamese market, expressed his optimism with regards to Vietnam’s socio-economic development prospects, as well as the country’s policies and measures to improve the business climate.

The Pharma Group Vice President shared about the challenges facing the pharmaceutical and health care sector, saying he hopes that Vietnam will make more improvements in its legal framework, mechanisms and policies, to better accommodate firms operating in the pharmaceutical industry. Representatives of participating businesses shared the view that Vietnam is an important market and has potential to become a pharmaceutical production center of ASEAN. They also discussed pharmaceutical development models and sustainable access to medicines for the public, along with issues regarding Government bidding and procurement, mechanisms to practise property rights and investment opportunities in Vietnam.

Ngoc Long