Vietnamese conglomerate Vingroup announces its stepping in pharmaceutical industry with the launch of its own brand Vinfa.
As announced in Vingroup's website on Sunday, the firm will establish a pharmaceutical research and production center worth VND2,200 billion (US$97.9 million) in Bac Ninh province.
Covering an area of nearly 10hectares, the project’s first phase is scheduled to start in Quarter 3, 2018 with specializations on research, production, logistics and support works, said Phan Thu Huong, Deputy Chairwoman of Vinfa’s Board of Directors.
The operation and quality control process of Vinfa follow three core targets including best-quality products, highly skilled labor force and striving towards professionalism, the company claimed.
The center aims at producing both western and oriental medicine for domestic sales as well as export. It would make investments into the research, development and conservation of traditional Vietnamese medicine, making use of medicinal herbs endemic to Vietnam.
In the time ahead, Vinfa could be the door for traditional Vietnamese medicine to be exported to foreign markets.
Phan Thu Huong also affirms Vinafa’s desire to research, produce, import and export the best-quality products while preserving and developing precious medicinal herbs and Vietnam’s traditional medicines.
Vingroup,which has interests in real estate, e-commerce, healthcare, education, agriculture and automobiles among others, is Vietnam's largest private enterprises by revenue, findings of Vietnam Report said.
The company currently runs Vinmec International Hospital with targets to expand its presence to 10 hospitals by 2020, including opening the Vinmec University of Health Sciences (VUHS) in 2019.
Covering an area of nearly 10hectares, the project’s first phase is scheduled to start in Quarter 3, 2018 with specializations on research, production, logistics and support works, said Phan Thu Huong, Deputy Chairwoman of Vinfa’s Board of Directors.
Illustrative photo
|
The center aims at producing both western and oriental medicine for domestic sales as well as export. It would make investments into the research, development and conservation of traditional Vietnamese medicine, making use of medicinal herbs endemic to Vietnam.
In the time ahead, Vinfa could be the door for traditional Vietnamese medicine to be exported to foreign markets.
Phan Thu Huong also affirms Vinafa’s desire to research, produce, import and export the best-quality products while preserving and developing precious medicinal herbs and Vietnam’s traditional medicines.
Vingroup,which has interests in real estate, e-commerce, healthcare, education, agriculture and automobiles among others, is Vietnam's largest private enterprises by revenue, findings of Vietnam Report said.
The company currently runs Vinmec International Hospital with targets to expand its presence to 10 hospitals by 2020, including opening the Vinmec University of Health Sciences (VUHS) in 2019.
Other News
- IT training urged to focus on semiconductors
- Hanoi Great Souvenir Fair 2024 to take place next week
- As orders rise, Vietnamese textile firms see better prospects in 2024
- C.bank to auction nearly 17,000 gold taels on April 22
- Trade ministry proposes purchasing renewable electricity mechanisms without EVN’s involvement
- Australia and Vietnam develop competitive electricity markets
- Vietnam, Thailand advance realization of “Three Connections” strategy
- Vietnamese Gov’t to expand list of electricity buyers under direct power agreement scheme
- Viettel opens largest data center in Vietnam to support AI development
- Vietnam’s economy expected to grow at solid pace in 2024-2025: ADB
Trending
-
Capital Law revision helps Hanoi promote role as nation’s socio-economic hub
-
Vietnam news in brief - April 25
-
Vietnamese contemporary ballet celebrates Europe Day
-
IT training urged to focus on semiconductors
-
Voluntary social security should cover larger part of informal sector: Experts
-
ASEAN Future Forum 2024: Promoting regional centrality
-
Central bank moves gold auction to tomorrow
-
[Video]Hanoi beauty spots featured in saxophone legend Kenny G's music video
-
Colorful stage shows in Hoan Kiem Lake pedestrian area