Viet Nam News HCM CITY — Significant potential for growth in trade in pharmaceutical and healthcare products exists between India and Việt Nam, experts at the Indian Pharmaceutical Exhibition and B2B Interaction said on Monday in HCM City. Speaking at the opening ceremony, Võ Tân Thành, deputy chairman of the Việt Nam Chamber of Commerce and Industry (VCCI), said that Việt Nam’s pharmaceutical industry in recent years had seen a two-digit growth rate and that growth momentum would continue until 2022. “Although the domestic pharmaceutical industry has made strong progress, it only meets 52.5 per cent of domestic pharmaceutical demand,” he said. The country has about 180 domestic and foreign pharmaceutical manufacturing firms, with about 194 factories of 158 enterprises meeting GMP-WHO standards. Domestic production consists of mostly generic drugs directly produced for domestic consumption and outsourcing for foreign … [Read more...] about India, VN step up pharma ties
Pharmaceuticals export promotion council of india
BUSINESS NEWS 7/8
PM to chair meeting on wood exports Prime Minister Nguyen Xuan Phuc will chair a meeting on wood processing industry and forestry exports in HCM City on August 8, the Ministry of Agriculture and Rural Development’s Viet Nam Administration of Forestry has announced.The forthcoming event will attract the participation of more than 500 enterprises operating in wood and representatives from foreign and domestic agencies. They will discuss measures for the fast and sustainable development of timber industry in the time to come.Statistics from the administration revealed that the country earned US$5 billion from forestry exports in the first seven months of this year, up 14 per cent year-on-year.The exports fulfilled nearly 56 per cent of the yearly target and made up 22.6 per cent of the total turnover of the agriculture sector.The US, China, Japan and South Korea were the largest forestry importers of Vietnamese timber goods. Other markets with strong growth … [Read more...] about BUSINESS NEWS 7/8
Indian firms eye Vietnamese healthcare sector
Indian firms eye Vietnamese healthcare sector By Hoang Nhung India’s booth displaying its pharmaceutical products and medical equipment at the Vietnam Medi Pharm Expo - PHOTO: HOANG NHUNG HCMC – Indian enterprises participating in a meeting between Indian and Vietnamese medical enterprises, held by the Consulate General of India in HCMC on August 3, expressed a desire to invest heavily in the healthcare sector of Vietnam. At the meeting, within the framework of the 18th International Medical, Hospital & Pharmaceutical Exhibition (Vietnam Medi Pharm Expo), Indian Consul General in HCMC K. Srikar Reddy said 44 Indian companies have joined the expo, which is considered an ideal opportunity for them to promote cooperation with domestic partners. Last year, Vietnam spent US$283 million on importing pharmaceutical products from India, up 2.5% over the previous year. In the coming days, Indian enterprises will enhance their investment in the sector in Vietnam, Reddy … [Read more...] about Indian firms eye Vietnamese healthcare sector
Vietnamese products making inroads into India
New Delhi (VNA) â Commodities from Vietnam have begun to make inroads into the Indian market as seen through the countryâs first-ever trade surplus with India, standing at 70 million USD last year. Bui Trung Thuong, head of Vietnamâs trade office in India, made the comment during an interview with Vietnam News Agency on the occasion of 45 years of bilateral diplomatic ties (January 7, 1972) and 10 years of strategic partnership with India. He said since Vietnam and India set up a strategic partnership in 2007, bilateral trade has increased more than five-fold from 1.01 billion USD in 2006 to 5.5 billion USD in 2016, according to the General Department of Vietnam Customs. Vietnamâs exports to India jumped 19.34 times during that period with average growth of 253 percent annually. The structure of traded commodities has also changed dramatically, from mostly animal feed, corn and pharmaceuticals in the past to a wide range of goods at present such as agricultural and aquatic … [Read more...] about Vietnamese products making inroads into India
Indian Businesses Foster Investment in Vietnam
(VEN) - In the past years, the bilateral trade ties between Vietnam - India have grown remarkably. The total trade revenue in 2010 between the two countries is estimated to have hit US$3 billion. At present, India is among top ten investors in Vietnam in chemical, pharmaceutical and textile-garment support materials industries. Economic and trade ties have played an important role in the countries' relations in the past years. Trade revenues have steadily increased since 1995. Between 1995 and 1996, the total jumped from US$72 million to US$1billion. The total climbed to US$1.5 billion in 2007 and US$2.4 billion in 2008. Total import-export revenue in 2008 reached US$2 billion, topping the targets set for not only 2009 but 2010 as well. In 2009, despite the impact of the global economic crisis, the total revenue between the two countries was US$2.05 billion. Vietnam's export revenue hit US$420 million, up 9 percent compared to 2008, while import revenue reached only US$1.6 billion, … [Read more...] about Indian Businesses Foster Investment in Vietnam