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Aug 10, 2023 / 13:01

Vietnam calls on Abbott to invest in pharmaceutical industry

The Vietnamese Government prioritizes promoting nutrition, pharmaceuticals, and medical equipment to help keep people healthy.

Abbott should contribute to the development of Vietnam's pharmaceutical industry by continuing to expand its investment and elevate the standards of its pharmaceutical factories.

 Prime Minister Pham Minh Chinh and Abbott CEO Robert Ford in Hanoi on August 9. Photo: Nhat Bac/VGP

Prime Minister Pham Minh Chinh made the remarks during a meeting with Abbott Chairman and CEO Robert Ford on August 9.

The Prime Minister stressed that Vietnam regards the US as its most important partner and will continue to promote the Vietnam-US Comprehensive Partnership in a substantive and effective manner while upholding mutual respect for independence, sovereignty, territorial integrity, and political ideologies.

Prime Minister Chinh expressed his gratitude to the US Government and American companies, including Abbott Group, for their support in Vietnam's endeavors to combat and control the Covid-19 pandemic. He acknowledged and praised Abbott's tangible and efficacious contributions to Vietnam's economic progress and strengthened Vietnam-US relations.

Chinh expressed his satisfaction with the remarkable progress in Vietnam-US bilateral relations in recent years. The US is Vietnam's most important export market, positioning Vietnam as the 7th largest trading partner for the US and the principal partner within the ASEAN region.

In outlining the principles and strategies of the Vietnamese Government, Prime Minister Chinh emphasized that Vietnam's development path is consistently guided by a commitment to rapid and sustainable progress driven by science, technology, and innovation. Emphasis is placed on cultivating a fair, transparent, and stable business environment, coupled with effective streamlining of administrative processes.

"Vietnam places a central focus on its people, recognizing them as both the nucleus and the propellant of development. As such, there is a strong need to invest in food security, pharmaceuticals, and medical equipment to ensure the well-being of the population," said Chinh.

He underscored the government's unwavering willingness to pay close attention to the views of enterprises, including those from the US. The aim is to create conducive conditions for enterprises to expand their investments and operations, especially in digital transformation, digital economy, manufacturing and processing industries, healthcare, advanced technology, and the cultivation of high-quality human resources.

Acknowledging Abbott's introduction of cutting-edge medical technologies to the Vietnamese market, Prime Minister Chinh proposed further expansion of the group's investment.

The goal is to improve the caliber of pharmaceutical manufacturing facilities and promote the growth of the pharmaceutical industry in Vietnam. He also invited companies from the US and other countries to invest in Vietnam and contribute to developing and implementing professional hospital nutrition protocols. This includes nutrition training and supervision within healthcare facilities and the establishment of specialized nutrition departments in selected hospitals.

Chinh also emphasized the need to raise public awareness about the role of nutrition in preventing diseases such as cancer, obesity, cardiovascular disease, and diabetes.

Abbott CEO Robert Ford expressed his admiration for Vietnam's achievements in national development, particularly its progress in socio-economic recovery and growth following the Covid-19 pandemic. He highlighted the country's open policies and the government's receptiveness and understanding of business.

Ford emphasized that Abbott, a global healthcare conglomerate with a long history, operates in 160 countries worldwide. Abbott's presence in Vietnam dates back to 1995, and it currently operates two pharmaceutical facilities in the country.

Recognizing the significant potential in Vietnam for expanding clinical research and large-scale pharmaceutical production, Ford reaffirmed Abbott Group's intention to make long-term investments in Vietnam. He also pledged to work closely with Vietnam in the areas mentioned by the Prime Minister.