The Hanoitimes - With the government’s new policies, it is forecast that more foreign companies will enter the Vietnamese market to cash in on the country’s growing medicine demands. Pharmaceutical retail market heats up with big players S.Korea, Japan investors target Vietnam's logistics, infras and pharmaceuticals Foreign investors promote M&A with Vietnam’s pharmacy firms Vingroup steps into pharmaceutical industry with its Vinfa brand It is now easier for foreign companies to join the Vietnamese pharmaceutical market, buoyed by recently-loosened business conditions regarding drug registration and imports. Vietnam’s drug imports increased by 8.8 percent last year to US$3.7 billion The Ministry of Health (MoH) has recently issued two new decrees – Decree No.155/2018/ND-CP and Decree No.169/2018/ND-CP, which revise a number of regulations under Decree No.54/2017/ND-CP and Decree No.36/2016/ND-CP, respectively. Previously, with … [Read more...] about Vietnam opens up pharma import market for foreign businesses
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Vietnam opens second trade promotion office in China
PM Nguyen Xuan Phuc on Monday attended the opening ceremony of Viet Nam’s second trade promotion office in Hangzhou of China’s Zhejiang province. The opening ceremony of Viet Nam's second trade promotion office in Hangzhou takes place in Shanghai on November 5, 2018 as part of PM Nguyen Xuan Phuc's tour to China to attend the first China International Import Expo (CIIE) 2018. Photo: VGP The new office is part of the two countries’ efforts to realize the outcomes of Chinese Party General Secretary and President Xi Jinping’s official visit to Viet Nam in November last year. Viet Nam launched first trade promotion office in Chongqing in May 2015 with an aim to boost bilateral trade exchanges. China is Viet Nam’s biggest trade partner with the two-way trade value reaching US$76 billion in the first nine months of 2018, up 18.9% from the previous year but Viet Nam posted a trade deficit of US$18.45 billion. The Northern neighbor poured US$2.17 … [Read more...] about Vietnam opens second trade promotion office in China
The dark side of FDI in Vietnam
Large corrugated metal roofs, small corrugated metal roofs and farmland. Satellite images of Tan Vinh Hiep Commune in the southern province of Binh Duong don’t show much more, but on the earth, these pictures are worth more than the proverbial thousand words – they tell a thousand stories, and counting. The commune stands just an hour's drive north of Ho Chi Minh City in Tan Uyen Town, and the satellite images are typical of Vietnam's economy in the 21st century. The large corrugated metal roofs are those that cover factories spanning thousands of square meters. Such factories have been the core economic component of both Tan Uyen and the whole province for decades. And most of these factories belong to foreign direct investment (FDI) companies. Surrounding the factories are the small corrugated metal roofs, just over 2 meters wide, dozens of meters long, branching out from the roads and alleyways around the factories. These are the roofs of dormitories for migrant workers … [Read more...] about The dark side of FDI in Vietnam
Vietnam, France tighten strategic partnership
(VEN) - This year, Vietnam and France mark the 45th anniversary of establishing diplomatic relations and the 5th year of strategic partnership. During more than four decades, the two countries have recorded impressive achievements on bilateral relations. Bertrand Lortholary, French Ambassador to Vietnam On these meaningful special occasions, French Ambassador to Vietnam Bertrand Lortholary spoke to Vietnam Economic News’ My Phung more about prosperity and bright future of growing multifaceted cooperation between the two countries. What are your assessments of bilateral cooperation achievements after 45 years of bilateral diplomatic relation establishment and five years of strategic partnership? Our two countries have achieved an exceptional level of political relations, based on a unique and shared history, as illustrated by numerous historical landmarks such as President Mitterrand’s visit to Vietnam in 1993 or the Francophonie Summit in Hanoi in … [Read more...] about Vietnam, France tighten strategic partnership
First Italian film week opens in Hanoi
Perfect Strangers, directed by Paolo Genovese, will be screened in Hanoi. (Photo: imdb.com) Hanoi (VNA) – The first Italian film week in Vietnam was launched in Hanoi on September 20 by the Italian Embassy in Vietnam. The event is part of activities to mark the 45th anniversary of the two countries’ diplomatic ties. Three films, namely Perfect Strangers, The Place and A Perfect Family by renowned director Paolo Genovese, will be screened in the film week, said Italian Ambassador Cecilia Piccioni. The Ambassador hoped the first Italian film week would help Vietnam people understand more Italy. Within the frameworks provided by the strategic partnership and the bilateral cultural agreements, the multifaceted cooperation with Vietnam also encompasses the cinema sector, she added. She said that after the successful events of the past few months focused on music, fashion, literature, education, history and art, the festival will offer Vietnamese audiences a glimpse of the … [Read more...] about First Italian film week opens in Hanoi