Vietnam: Export value of domestically produced drugs to achieve approximately USD 1 billion in 2030

Vietnam: Export value of domestically produced drugs to achieve approximately USD 1 billion in 2030
Nguyễn Trinh

Below is the remarkable content specified in Decision 376/QD-TTg approving development program for pharmaceuticals industry in Vietnam and domestically produced herbal ingredient until 2030 and vision to 2045.

The program sets out a number of specific objectives in Vietnam as follows:

- Until 2030

+ Export value of domestically produced drugs achieves approximately USD 1 billion.

+ Become a high quality pharmaceutical production center in the region

+ Domestically produced drugs account for 80% of used drugs and 70% of market value, percentage of domestic herbal ingredients and herbal drugs increases by at least 30% compared to 2020.

+ At least 10 – 15 transplanted herbal drugs are developed to meet domestic demand.

+ Reinvigorate, import, transplant and develop 10 – 15 foreign herbal ingredients in large quantity.

+ Transfer production technology of at least 100 innovator drugs with valid trademark, vaccines, medical biological and medicine which Vietnam has not been able to produce.

- Until 2045:

+ Vietnam has innovator drugs originating from unique herbal ingredients which are researched, produced and registered for trademark.

+ Total pharmaceuticals industry value contributes more than USD 20 billion to GDP.

More details can be found in Vietnam's Decision 376/QD-TTg which takes effect from March 17, 2021.

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