Econ
Vingroup steps into pharmaceutical industry with its Vinfa brand
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.
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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.
