Minister of Health Nguyen Quoc Trieu said he believed that the implementation of the MoU would help transform the drug industry into a spearhead economic sector in accordance with the Politburo’s Resolution.

The Ministry of Industry and Trade will take responsibility for continuing a program to conduct scientific and technological research and refer projects to health experts for verification.

The Ministry of Health will make recommendations on materials needed for drug production to the Ministry of Industry and Trade, which will conduct further laboratory research.

Vietnam now has 800 pharmaceutical companies and 439 foreign drug companies registered to do business, and close to 40,000 drugstores. Drugs manufactured in Vietnam account for 50 percent of the domestic market and 86 drug manufacturers have obtained the Good Pharmacy Practices (GPP) standard.

However, the country has to import up to 90 percent of materials used to make the drugs.

Source: VNA