THAI BINH PROVINCE TO BE HOME TO FIRST BIO-PHARMA INDUSTRIAL PARK

The northern province of Thai Binh plans to build an industrial park to develop pharmaceutical and biological products, the first of its kind in Vietnam.

Partners in the project are the Singapore-based Makara Capital Partners Pte. Ltd. and Sakae Corporate Advisory Pte. Ltd. and Vietnam’s Newtechco Group JSC. Under an MoU signed between provincial authorities and investors on April 1, the project will cover 300 ha in Quynh Phu district and require an estimated $150-200 million in investment. Once completed, the industrial park is expected to attract total registered investment of $800 million in the 2024-2027 period and $1.2 billion in the 2028-2030 period.

As the first large-scale and modern pharmaceutical and biological industrial park in Vietnam, the project will not only meet domestic demand for drugs and medical equipment but also target high-value exports. It is also expected to help the Vietnamese Government attract private investment and boost the country’s pharmaceutical industry.

Thai Binh aims to complete legal procedures, including those relating to planning and site clearance, in the third quarter of 2024. Construction is set to begin in the following quarter, with full occupancy reached by 2030.

Speaking at the MoU (Memorandum of Understanding) signing ceremony, Deputy Minister of Health Do Xuan Tuyen said that along with the booming Vietnamese economy, the industrialization of the country’s pharmaceutical industry has also developed strongly. The building of the industrial park is therefore considered a particularly important for investors in the pharmaceutical industry and will promote the development of Vietnam’s pharmaceutical industry in line with the strategy and guidelines from the government.

Source: VnEconomy

About STELLAPHARM

Stellapharm J.V. Co., Ltd. is currently known as one of leading generics pharmaceutical companies and strong manufacturers in Vietnam. Established in 2000, Stellapharm was built on the foundation of a manufacturing factory in Vietnam and formed a joint venture with a partner from Germany. We focus on both prescription drugs and non-prescription especially in cardiovascular diseases, anti-diabetics drugs, etc. Products of Stellapharm are now used by millions of patients in more than 50 countries worldwide.

The company is globally recognized for its quality through our facilities have been audited and approved by stringent authority like EMA, PMDA, Taiwan GMP, local WHO and others.

Additional information for this article: Stellapharm J.V. Co., Ltd. – Branch 1
A: 40 Tu Do Avenue, Vietnam – Singapore Industrial Park, An Phu Ward, Thuan An City, Binh Duong Province, Vietnam
T: +84 274 376 7470 | F: +84 274 376 7469 | E: info@stellapharm.com | W: www.stellapharm.com