Economy · 19. August 2020

Mr. Vu Tuan Cuong, Director of Drug Administration of Vietnam, said that the pharmaceutical market of Vietnam is currently worth USD 5.2 billion with the growth rate of 12% per year. Despite rapid growth, Vietnam's production capacity can only meet 53% of domestic pharmaceutical demand. In 2018, Vietnam's spent nearly USD 2.8 billion on importing pharmaceuticals. In 2019, this spending increased by 10%. Vietnam is also highly dependent on imported pharmaceutical materials, mainly from China...