India-Vietnam seminar on promotion of trade and investment in pharmaceutical sector

The seminar was organized to explore the emerging opportunities and exchange views and ideas on ways to promote bilateral engagement in the pharma sector by taking advantage of policies and incentives offered in India and Vietnam. 

The Embassy of India in association with the International Investment Promotion Alliance (INVEST-GLOBAL), Vietnam Association of Foreign Invested Enterprise (VAFIE) and Indian Business Chamber (INCHAM) in Hanoi organized an India-Vietnam Seminar on Promotion of Trade and Investment in Pharmaceutical Sector on 21 January 2021. 

The event was attended by about 180 people including representatives of Ministry of Finance, Drug Administration of Vietnam, Ministry of Health. Various representatives from Indian pharmaceutical companies based in Vietnam as well as Vietnamese companies also took part. 

Touching upon the importance of the pharmaceutical sector in trade and healthcare partnership between India and Vietnam, Ambassador Pranay Verma urged businesses and all other stakeholders on both sides to explore new opportunities for promoting engagement in pharmaceutical sector in accordance with the “Joint Vision for Peace, Prosperity and People” adopted by the Prime Ministers of India and Vietnam on 21 December 2020. 

 Ambassador underlined India’s globally acknowledged capabilities as a producer of high-quality, low-cost medicines and vaccines, which was fully demonstrated during the COVID-19 pandemic as India became a major provider of pharmaceuticals to more than 150 countries. He also highlighted India’s launch of the largest ever vaccination drive in the human history on 16th January 2021 to fight the COVID-19 pandemic with two “Made in India” vaccines.

In their remarks, Prof Nguyen Mai from VAFIE as well as Dr. Doan Duy Khuong from VCCI emphasized the need to enhance the presence of Indian pharmaceutical companies in Vietnam, particularly through investment.

Known as the Pharmacy of the World, India is the largest manufacturer of generic drugs and supplies over 60% of global demand for various vaccines. Over 80% of the antiretroviral drugs used globally to combat HIV-AIDS are manufactured by Indian pharmaceutical firms. India has the advantage of a large raw material base, skilled workforce and increasing investment in Research and Development, that has enabled India to become a manufacturer of world-class medicines for its domestic consumption as well as overseas market. 

The pharmaceutical market of Vietnam has grown rapidly, with an estimated value of US$7 billion in 2019. The annual growth is expected to be 8% till 2024. While Vietnamese drug manufacturers are able to meet half of their domestic demand, they depend on imports for approximately 60% of pharmaceutical end products, 90% of active pharmaceutical ingredients and most of the raw materials for the production of pharmaceuticals. 

The seminar was organized to explore the emerging opportunities and exchange views and ideas on ways to promote bilateral engagement in the pharma sector by taking advantage of policies and incentives offered in India and Vietnam. The two panel discussions on the themes namely “Opportunities for Indian Investment in pharma sector in Vietnam” and “Trade facilitation for Indian pharma products in Vietnam” were held during the Seminar. 

Views were expressed by the participants on the need for greater Indian investment in pharma sector in Vietnam as well as the need to enhance awareness in Vietnam about India’s strength as the leading manufacturer of pharmaceuticals. Representatives from Ministry of Finance as well as Ministry of Health provided details of incentives for investment in health sector, particularly high-tech projects, offered by Vietnam and upcoming new circulars that would further facilitate trade in pharmaceutical products for Vietnam. 

PSNews

Other News

Hanoi ready to implement Capital Law 2026, unlocking new development momentum

Hanoi ready to implement Capital Law 2026, unlocking new development momentum

The effectiveness of the Capital Law 2026 will be measured not by the number of legal documents issued but by tangible improvements in governance and public administration, better services for people and businesses, faster administrative procedures, stronger investment attraction and higher economic growth.

Vietnamese students earn honours at ROBOG Asia Cup 2026

Vietnamese students earn honours at ROBOG Asia Cup 2026

Three teams from Chu Van An Secondary School in Vietnam’s Thai Nguyen province have earned First Prize honours and advanced to the quarterfinals at the ROBOG Asia Cup 2026, a regional robotics and artificial intelligence (AI) competition for students held in Hong Kong, China.

Hanoi sets out new investment blueprint with century-long development vision

Hanoi sets out new investment blueprint with century-long development vision

As of early June, Hanoi had attracted 74.6 billion USD in foreign direct investment (FDI) through more than 9,250 valid projects. FDI inflows in the first six months were projected at 3.2 billion USD, surpassing the annual target by 116%, while nearly 16,000 new businesses were established in the first five months, up 34.4% year-on-year.

Vietnam promotes legal cooperation and rule of law at global forum

Vietnam promotes legal cooperation and rule of law at global forum

Vietnam’s development and international integration have gone hand in hand with the improvement of its legal system, the incorporation of international commitments into domestic legislation, and legal reforms aimed at fostering development, openness and global integration. The country regards international law as an essential instrument for building fair, mutually beneficial relations among nations.

Hanoi to hold investment promotion event on June 29

Hanoi to hold investment promotion event on June 29

At the event, Hanoi authorities plan to grant investment policy decisions and investment registration certificates to 20 exemplary projects in the fields of transportation infrastructure, industrial parks, urban development, social housing, environment, science and technology, and foreign investment attraction.

Hanoi's Red River urban area development draws widespread attention

Hanoi's Red River urban area development draws widespread attention

Located south of the Red River and extending from the historic inner city to newly developing areas in the south and the west, the central urban area along Red River’s right bank covers approximately 45,317 hectares and is projected to accommodate around 6.365 million residents by 2045 and 6.455 million by 2065.

Hanoi's Red River urban area development draws widespread attention

Hanoi's Red River urban area development draws widespread attention

Located south of the Red River and extending from the historic inner city to newly developing areas in the south and the west, the central urban area along Red River’s right bank covers approximately 45,317 hectares and is projected to accommodate around 6.365 million residents by 2045 and 6.455 million by 2065.

Regional cooperation strengthened to combat cross-border drug crime

Regional cooperation strengthened to combat cross-border drug crime

Vietnam, China, Laos and Myanmar face common challenges as drug syndicates increasingly exploit the Mekong River, cross-border transport networks, e-commerce platforms, international logistics services, cyberspace and cryptocurrencies to organise drug transactions and smuggling operations.