Indian textile exhibition kicks off Wednesday

HCMC – Twenty four Indian companies will display their latest range of fabrics and yarns in a two-day exhibition in the Rex Hotel in HCMC from Wednesday.  

The Indian textile exhibition is organized by the Synthetic and Rayon Textiles Export Promotion Council of India in collaboration with the Vietnam Chamber of Commerce and Industry (VCCI). It’s the sixth Indian textile exhibition held in the city in the last few years.

“Indian textile companies have some advantages as they can supply big orders as well as small-volume ones,” Srijib Roy, joint director of the Indian council, said in a meeting with local media on Monday to introduce the exhibition.  

Roy said they could meet demand of garment companies in fast changing fashion markets. Besides, Indian companies can change their products designs upon buyers’ request.  

Abhay Thakur, consul general of India in HCMC, said Vietnam’s textile imports from India this year increased four times compared with last year. In the first half of this year, Vietnam imported US$115 million worth of Indian textile products compared to US$25 million in the year-earlier period.

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India urged to invest in drugs companies

Many parents give their children too large or frequent doses of non-prescription medicines for fever, coughs and colds, putting their health at risk

Photo: AFP

Deputy Minister of Health Cao Minh Quang has encouraged Indian-owned pharmaceutical enterprises to pour more investment in the local pharmaceutical industry.

During on Monday's seminar on prospects of the industry, Quang said he had told the Indian Business Chamber in Vietnam (INCHAM) that Indian companies had provided drugs of high quality, safety and efficacy at reasonable prices in Vietnam .

"The Ministry of Health recognises the efforts made by foreign investors in the development of the pharmaceutical sector and will try its best to create a favourable and equitable business environment for INCHAM members who invest in Vietnam ," Quang said.

The ministry is committed to continue increasing transparency and accountability, and will reform administrative procedures to smooth the way forward for enterprises, according to Quang.

The ministry's goal is to develop the pharmaceutical sector on many levels, including investment, integration with the world market, and creation of new policies and laws governing the industry.

According to the ministry, 128 Indian enterprises among 545 foreign similar enterprises have been licensed to work in the pharmaceutical industry, accounting for 23.5 percent, the highest ranking.

The number of valid registrations granted to Indian drugs is 4507, accounting for 37.8 percent, the highest level. Drugs from the Republic of Korea rank second, 19.23 percent.

India is an emerging pharmaceutical market in the Asia-Pacific region with an impressive growth rate of 13 percent per year.

At US$193 million in export turnover to Vietnam , India , the world's third-largest producer of pharmaceuticals, was the largest pharmaceutical exporter to Vietnam in 2009.

Abhay Thakur, consul general of India in HCMC said India 's industry had average annual exports of $8.5 billion.

The $21 billion Indian pharma industry was small in comparison to the global market, he added.

"Vietnam can increasingly look towards India as a source for affordable medicines and to solve concerns about increasing healthcare costs," he said.

 

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Official calls on Indian drug firms to invest in Vietnam

Cao Minh Quang (R ), deputy minister of health, chats with Indian businessmen at a tea break during the seminar on Vietnam’s pharmaceutical industry - Photo: Dao Loan

HCMC – A deputy health minister on Monday called on Indian pharmaceutical firms to invest in manufacturing in Vietnam rather than largely confining their business to drug trading only.

Deputy Minister of Health Cao Minh Quang told a seminar held in HCMC that India was most active in the Vietnamese pharmaceutical market with up to 128 firms having gained licenses to do business here.

Furthermore, the number of valid circulation visas given to Indian drugs also accounts for the largest number with over 4,500 products, or 37.8% of the total number of foreign drugs, far higher than the second position held by South Korea with over 19%.

“Indian firms have played a big part in Vietnam’s pharmaceutical market,” Quang told the seminar “Existing and Future Prospects in Vietnam’s Pharmaceutical Industry” organized by the Indian Business Chamber in Vietnam.

But the deputy minister noted that Indian drug firms engaged in trading only while ignoring the manufacturing segment in Vietnam. He urged Indian firms to take a bolder approach to expand their business activities in Vietnam.

“Only one Indian company has set up a manufacturing plant in Vietnam, but now the plant, named Ranbaxy, has already been acquired by ICA and thus it is no longer a foreign direct investment enterprise,” Quang said.

Quang said the local industry still had opportunities for investors to grasp regarding production of raw materials and hi-tech pharmaceutical products, which is the strength of Indian enterprises.

Vietnam’s pharmaceutical industry is in need of investment, including in medication packaging materials, equipments, herbal medicines, and other related services, according to Quang.

“That’s an opportunity. Let us think about this. We will give very good conditions to those companies wanting to invest in the production of hi-tech pharmaceutical products. It’s a priority investment sector,” he said.

Indian entrepreneurs at the seminar said they were interested not only in selling drugs but also in other business segments like infrastructure for the industry. The Ministry of Health should work closer with the Ministry of Planning and Investment to bring out better policies to help the investors develop their projects in the country, said a participant.

“Indian enterprises can invest in infrastructure, technology transfer for manufacturing advanced drugs, collaboration for the manufacturing of vaccines and bio-products, and others,” said Kailash Patki, country manager of Dr. Reddy’s Laboratories Ltd.

According to Abhay Thakur, Indian consul general in HCMC, Indian pharmaceutical export to Vietnam last year amounted to US$193 million.

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India urged to invest in drugs companies

Deputy Minister of Health Cao Minh Quang has encouraged Indian-owned
pharmaceutical enterprises to pour more investment in the local
pharmaceutical industry.

During on Sept. 6's seminar
on prospects of the industry, Quang said he had told the Indian
Business Chamber in Vietnam (INCHAM) that Indian companies had provided
drugs of high quality, safety and efficacy at reasonable prices in
Vietnam .

"The Ministry of Health recognises the
efforts made by foreign investors in the development of the
pharmaceutical sector and will try its best to create a favourable and
equitable business environment for INCHAM members who invest in
Vietnam ," Quang said.

The ministry is committed to
continue increasing transparency and accountability, and will reform
administrative procedures to smooth the way forward for enterprises,
according to Quang.

The ministry's goal is to
develop the pharmaceutical sector on many levels, including investment,
integration with the world market, and creation of new policies and laws
governing the industry.

According to the ministry,
128 Indian enterprises among 545 foreign similar enterprises have been
licensed to work in the pharmaceutical industry, accounting for 23.5
percent, the highest ranking.

The number of valid
registrations granted to Indian drugs is 4507, accounting for 37.8
percent, the highest level. Drugs from the Republic of Korea rank
second, 19.23 percent.

India is an emerging
pharmaceutical market in the Asia-Pacific region with an impressive
growth rate of 13 percent per year.

At 193 million
USD in export turnover to Vietnam , India , the world's third-largest
producer of pharmaceuticals, was the largest pharmaceutical exporter to
Vietnam in 2009.

Abhay Thakur, consul general of
India in HCM City , said India 's industry had average annual
exports of 8.5 billion USD.

The 21 billion USD Indian pharma industry was small in comparison to the global market, he added.

" Vietnam can increasingly look towards India as a source for
affordable medicines and to solve concerns about increasing healthcare
costs," he said./.

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India urged to invest in drugs companies

HCM CITY — Deputy Minister of Health Cao Minh Quang has encouraged Indian-owned pharmaceutical enterprises to pour more investment in the local pharmaceutical industry.

During yesterday's seminar on prospects of the industry, Quang said he had told the Indian Business Chamber in Viet Nam (INCHAM) that Indian companies had provided drugs of high quality, safety and efficacy at reasonable prices in Viet Nam.

"The Ministry of Health recognises the efforts made by foreign investors in the development of the pharmaceutical sector and will try its best to create a favourable and equitable business environment for INCHAM members who invest in Viet Nam," Quang said.

The ministry is committed to continue increasing transparency and accountability, and will reform administrative procedures to smooth the way forward for enterprises, according to Quang.

The ministry's goal is to develop the pharmaceutical sector on many levels, including investment, integration with the world market, and creation of new policies and laws governing the industry.

According to the ministry, 128 Indian enterprises among 545 foreign similar enterprises have been licensed to work in the pharmaceutical industry, accounting for 23.5 per cent, the highest ranking.

The number of valid registrations granted to Indian drugs is 4507, accounting for 37.8 per cent, the highest level. Korean drugs (19.23 per cent) rank second.

India is an emerging pharmaceutical market in the Asia-Pacific region with an impressive growth rate of 13 per cent per year.

At US$193 million in export turnover to Viet Nam, India, the world's third-largest producer of pharmaceuticals, was the largest pharmaceutical exporter to Viet Nam in 2009.

Abhay Thakur, consul general of India in HCM City, said India's industry had average annual exports of $8.5 billion.

The $21 billion Indian pharma industry was small in comparison to the global market, he added.

"Viet Nam can increasingly look towards India as a source for affordable medicines and to solve concerns about increasing healthcare costs," he said. — VNS

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