VIETNAM TARGETS 8-11% ANNUAL PHARMACEUTICAL CHEMICAL GROWTH BY 2045

HCMC – Vietnam aims to develop its pharmaceutical chemical industry into a high-tech sector integrated into the global pharmaceutical value chain by 2045, targeting annual industrial production growth of 8-11%.

Deputy Prime Minister Le Thanh Long has approved a national program to expand domestic production of pharmaceutical ingredients and increase exports of pharmaceutical chemical products. The initiative seeks to reduce reliance on imports and strengthen Vietnam’s role in the international pharmaceutical market.

By 2030, Vietnam aims to produce 20% of its pharmaceutical raw materials and meet 50% of the demand for ingredients used in functional foods and cosmetic pharmaceuticals.

Exports of natural pharmaceutical chemical products, such as active ingredients and essential oils, are expected to grow by more than 10% annually.

By 2045, the industry is set to become a modern, high-tech sector, fully integrated into the global pharmaceutical value chain. The industry’s industrial production growth rate is expected to reach 8-11% per year.

The program prioritizes attracting investment from domestic companies and multinational pharmaceutical corporations to expand production capabilities. Workforce training will also be a key focus, ensuring a highly skilled labor force to meet industry demands.

The program also encourages the recruitment of experienced foreign experts, scientists, and managers, as well as overseas Vietnamese professionals, to contribute to the sector’s development.

According to the Vietnam Chemicals Agency under the Ministry of Industry and Trade, Vietnam’s pharmaceutical industry currently relies heavily on imported raw materials for drug production.

The implementation of the “Pharmaceutical Chemical Industry Development Program to 2030, with a Vision to 2045” is expected to significantly enhance domestic production capacity and support long-term industry growth.

Source: The Saigon Times

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