Pharmaceuticals to contribute $20 billion to Vietnam's GDP by 2045

Decision No.1165/QD-TTg issued by Deputy Prime Minister Tran Hong Ha sets this as the major aim of the National Strategy for growing Vietnam's pharmaceutical sector to 2030 and 2045.

By 2030, Vietnam aims to become a top pharmaceutical production center in the region. The pharmaceutical sector will acquire technology transfer and develop 100 unique brand-name medications, vaccines, and biological products, including comparable pharmaceuticals not yet produced in Vietnam.

Vietnam aims to achieve level three or higher WHO certification for State management agencies for pharmaceutical chemicals and maintain and improve WHO certification for vaccine regulation.

The health sector aims to sustainably maintain 100% drug businesses meeting good practice standards, 100% drug testing facilities meeting GLP standards, and 20% of drug manufacturing facilities meeting EU-GMP, PICs-GMP, or equivalent standards.

The pharmaceutical industry aims to assess 30% of generic drugs as bioequivalent and monitor 100% of market drugs for effectiveness and safety, following Ministry of Health regulations. Clinical pharmacy and organized medicine usage are applied in all medical institutions.

To address domestic demand and boost export value, the government aims to integrate domestic drug production into the global supply chain by 2045. Vietnam commits to producing specialized medications, innovative drugs, vaccines, biological goods, and medicinal substances.

Domestically studied, manufactured, and copyrighted brand-name pharmaceuticals will enter the pharmaceutical industry. The testing, distribution, clinical pharmacy, information, and pharmacovigilance systems will match advanced countries worldwide.

The 2030 approach aims to offer 100% of medications immediately for illness prevention and treatment.

Source: VNS