Indian Consul General in Ho Chi Minh City K. Srikar Reddy (Source: VNA)HCM City (VNA) – There are a lot of potential for boostingcooperation, trade and investment in pharmaceuticals and health care betweenVietnam and India, said experts at the Indian Pharma Exhibition and B2B meetingheld in Ho Chi Minh City on January 21.
K. Srikar Reddy, Consul General of India in HCM City, said Vietnam is animportant market for India’s herbal products and medicine, while highlightingIndia’s pharmaceuticals development.
According to Reddy, Vietnam is among rapid and dynamic economies in Asia withincreasing per-capital income along with high demand on health care services.
In addition, the country is an attractive destination for foreign tourists aswell as for medical tourism. Vietnam welcomed 15.49 million foreign visitors in2018, a year-on-year rise of 19.9 percent. The number of health care centres isincreasing to serve the growing foreign visitors.
India ranks third and 14th in the world in terms of pharmaceutical output andvalue, respectively, Reddy said, adding leading Indian pharmaceutical firms hadinternational recognition from the US, the EU and Australia.
Besides, made-in-India medical equipment is shipped to 150 countries around theworld, including Vietnam.
Vo Tan Thanh, Director of the Vietnam Chamber of Commerce and Industry’s HCMCity chapter, stressed the development of Vietnam’s pharmaceuticals sector inrecent years. However, production only meets 52 percent of domestic consumption.In 2018, Vietnam imported 3 billion USD worth of pharmaceuticals.
Vietnamese pharmaceutical firms want to cooperate and call for investment from foreigncompanies, including those from India to attract capital, technology and highquality human resources. Therefore, there is room for cooperation betweenVietnamese and Indian businesses in the field, according to Thanh.
Ramesh Anand, Chairman of the Indian Business Association in Vietnam, saidIndian enterprises are interested in investing in and doing business withVietnam because this is a promising market and a gateway to access theSoutheast Asian region.
By the end of 2018, India had invested in 209 projects worth 878.5 million USDin Vietnam, ranking 29th among 129 foreign investors in the Southeast Asiannation.
In the pharmaceutical and medical equipment sector, India regards Vietnam as animportant and promising market. So, Indian enterprises are seeking investmentopportunities in building plants in Vietnam along with promoting trade of made-in-Indiapharmaceutical products, Anand said.
Besides, India with its advantage on pharmaceutical production and research canassist Vietnam in technique and transfer of vaccine production technology,medical equipment, and pharmaceutical materials, thereby facilitating theVietnamese sector’s further development in the future. - VNA
K. Srikar Reddy, Consul General of India in HCM City, said Vietnam is animportant market for India’s herbal products and medicine, while highlightingIndia’s pharmaceuticals development.
According to Reddy, Vietnam is among rapid and dynamic economies in Asia withincreasing per-capital income along with high demand on health care services.
In addition, the country is an attractive destination for foreign tourists aswell as for medical tourism. Vietnam welcomed 15.49 million foreign visitors in2018, a year-on-year rise of 19.9 percent. The number of health care centres isincreasing to serve the growing foreign visitors.
India ranks third and 14th in the world in terms of pharmaceutical output andvalue, respectively, Reddy said, adding leading Indian pharmaceutical firms hadinternational recognition from the US, the EU and Australia.
Besides, made-in-India medical equipment is shipped to 150 countries around theworld, including Vietnam.
Vo Tan Thanh, Director of the Vietnam Chamber of Commerce and Industry’s HCMCity chapter, stressed the development of Vietnam’s pharmaceuticals sector inrecent years. However, production only meets 52 percent of domestic consumption.In 2018, Vietnam imported 3 billion USD worth of pharmaceuticals.
Vietnamese pharmaceutical firms want to cooperate and call for investment from foreigncompanies, including those from India to attract capital, technology and highquality human resources. Therefore, there is room for cooperation betweenVietnamese and Indian businesses in the field, according to Thanh.
Ramesh Anand, Chairman of the Indian Business Association in Vietnam, saidIndian enterprises are interested in investing in and doing business withVietnam because this is a promising market and a gateway to access theSoutheast Asian region.
By the end of 2018, India had invested in 209 projects worth 878.5 million USDin Vietnam, ranking 29th among 129 foreign investors in the Southeast Asiannation.
In the pharmaceutical and medical equipment sector, India regards Vietnam as animportant and promising market. So, Indian enterprises are seeking investmentopportunities in building plants in Vietnam along with promoting trade of made-in-Indiapharmaceutical products, Anand said.
Besides, India with its advantage on pharmaceutical production and research canassist Vietnam in technique and transfer of vaccine production technology,medical equipment, and pharmaceutical materials, thereby facilitating theVietnamese sector’s further development in the future. - VNA
