Program for the development of the pharmaceutical industry in Vietnam until 2030, vision to 2045

Program for the development of the pharmaceutical industry in Vietnam until 2030, vision to 2045

The Prime Minister of Vietnam approved the Program for the development of the pharmaceutical industry until 2030, with a vision to 2045, with the following contents:

- Prioritize the development of the pharmaceutical chemistry industry as an economic sector with high added value, capable of deeply integrating into the production network and the global value chain of pharmaceuticals and chemicals, having a high spillover effect on several other economic sectors.

- Promote the development of Vietnam's natural pharmaceutical products in conjunction with planning and investment in developing pharmaceutical material zones to form pharmaceutical industry value chains.

- Enhance investment attraction from domestic enterprises and multinational pharmaceutical corporations to develop Vietnam’s pharmaceutical chemistry industry, directing multinational pharmaceutical corporations to invest in the production of pharmaceutical chemistry products through chemical synthesis methods, while domestic enterprises invest in the production of natural pharmaceutical chemistry products.

* Objectives of the Program

Develop the pharmaceutical chemistry industry, gradually increase the production and use of domestic raw materials for pharmaceuticals, and boost the export of pharmaceutical chemistry products, contributing to the achievement of the goals of the Vietnam Chemical Industry Development Strategy, Domestic Pharmaceutical and Medicinal Material Production Development Program, and the National Strategy for the Development of the Pharmaceuticals Sector in Vietnam for the period until 2030, with a vision to 2045 as approved by the Prime Minister, with specific objectives as follows:

- By 2030:

+ Strive to meet 20% of the raw material demand for pharmaceutical production; satisfy 50% of the raw material demand for domestic functional foods and pharmaceuticals cosmetics production.

+ Achieve an export growth rate of some natural pharmaceutical chemistry products (active pharmaceutical ingredients, standardized extracts, high-content essential oils) ≥ 10%/year.

- By 2045:

+ Vietnam's pharmaceutical chemistry industry becomes a high-tech, modern industry, with competitiveness and participation in the global pharmaceutical value chain.

+ Achieve a growth rate of 8 - 11%/year in the industrial production of the pharmaceutical chemistry sector.

* Institutional and Legal Solutions

- Research, review, and complete the mechanisms, policies, and legal regulations to encourage, support, and attract investment in the development of the pharmaceutical chemistry industry towards preferential support at the highest level regarding taxes, land, finance...

- Continue to perfect and update standards and regulations related to pharmaceutical chemistry products;

- Review, reform, and simplify administrative procedures for investment, production, business activities, trade promotion, export, and international cooperation in the field of pharmaceutical chemistry.

More details can be found in Decision 270/QD-TTg effective from February 13, 2025.

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