Business Development Asia LLC
South East Asian Health News
ISSUE 5, FEBRUARY 1998
VIETNAM
HCMC Pharmaceutical Material Company No. 2 reported revenues of VND150bn (US$12m) in 1997, a three-fold increase over 1996. The company exported pharmaceutical materials and herbal medicines worth US$650,000, up US$150,000 over last year. The company is focusing on producing powdered pharmaceuticals for export instead of exporting raw materials. (January 7th 1998)
Proctor & Gamble (Vietnam) has been forced to default on existing borrowings because the Vietnamese central bank ordered a freeze on new lending to its local JV. P&G and Phuong Dong, its local partner, a subsidiary of Vietnam Chemicals Corp, have been in disagreement for months over P&G's attempts to increase its investment to stem two years of losses. The move by the central bank shocked foreign businesses which are already being driven away by increasing corruption. Contracted foreign investment in the country fell more than 30% in 1997. (February 2nd 1998)
Rohto Pharmaceutical is beginning construction of an ophthalmic drops production plant in Ho Chi Minh City at a cost of US$10m. The new plant will be the company's second foreign production operation. Rohto already has a plant in China. (January 6th 1998)
The Vietnamese Government announced measures it would take to protect pharmaceutical enterprises that met Good Manufacturing Practice (GMP) standards. Those companies meeting the standards will be allowed to participate in international biddings, will be given permission to produce certain products barred from non-GMP manufacturers and will be given priority when distributing drugs to hospitals. (January 13th 1997)
The Vietnamese Pharmaceutical Management Department has put into effect stricter registration guidelines for pharmaceutical products. Any product twice found in violation of standards will have its registration revoked, and manufacturers with two or more violations will be forced to cease production. All imported medicines will be required to carry instructions for use in Vietnamese. (January 13th 1998)
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