Economic diplomacy supports pharmaceutical and cosmetic businesses to penetrate the South African and Malaysian markets

The Department of Economic Synthesis, Ministry of Foreign Affairs recently organized a working session between the Drug Administration of Vietnam, Ministry of Health and nearly 20 pharmaceutical and cosmetic enterprises wishing to promote cooperation with the Heads of Vietnamese representative agencies in South Africa and Malaysia.

Ngoại giao kinh tế hỗ trợ các doanh nghiệp dược, mỹ phẩm thâm nhập thị trường Nam Phi và Malaysia

The Department of Economic Synthesis, Ministry of Foreign Affairs organized a working session between 20 pharmaceutical and cosmetic enterprises and the Heads of Vietnamese representative agencies in South Africa and Malaysia.

Implementing the task of economic diplomacy to accompany and support businesses, on May 26, the Department of Economic Synthesis, Ministry of Foreign Affairs organized a meeting between Mr. Hoang Sy Cuong, appointed Vietnamese Ambassador to South Africa and Mr. Dinh Ngoc Linh, appointed Vietnamese Ambassador to Malaysia with the Drug Administration, Ministry of Health and nearly 20 pharmaceutical and cosmetic enterprises wishing to promote cooperation with the two localities.

At the meeting, the two sides discussed measures to support pharmaceutical and cosmetic enterprises to penetrate the South African and Malaysian markets. The embassies will continue to support enterprises in finding information about the market, regulations and necessary certificates for export as well as connecting Vietnamese enterprises with local distributors and enhancing information about prestigious medical fairs and exhibitions abroad and introducing medical events organized in Vietnam.

The representative agencies will continue to accompany the Ministry of Health and businesses, and lobby politically and diplomatically so that foreign governments can simplify procedures and create more favorable conditions for Vietnamese pharmaceutical, cosmetic and medical equipment products to penetrate the market.

Delegates took souvenir photos after the working session.

Enterprises pledged to strengthen coordination with Vietnamese representative agencies abroad, actively promote and participate in fairs and exhibitions, and strengthen links between enterprises to create common strength in promoting Vietnamese medical products abroad.

The Department of Drug Administration, Ministry of Health said that Vietnam's pharmaceutical and cosmetic industry has great potential for development with 230 pharmaceutical factories meeting GMP standards, 20 factories meeting EU-GMP, and 33 cosmetic production facilities meeting CGMP-ASEAN.

According to Decision No. 376/QD-TTg dated March 17, 2021 of the Prime Minister approving the Program for developing the pharmaceutical and medicinal materials industry produced domestically by 2030, with a vision to 2045, the goal has been set: "By 2030, Vietnam will become a center for high-value pharmaceutical production in the region, striving for the export value of domestically produced drugs to reach about 1 billion USD".

Source