In the context of the global pharmaceutical and healthcare industry’s strong shift toward innovation and high-tech applications, Vietnam is also facing the need to change its approach in order to keep pace with new development trends. Experience from many countries shows that investment in the pharmaceutical sector not only creates economic value but also enhances innovation capacity, generating strong spillover effects across many other sectors of the economy.
On July 20, 2023, more than 200 delegates from ministries, agencies, international organizations, and the domestic and foreign business community attended the workshop titled “Implementing Resolution 29: A New Approach to the Development of the Pharmaceutical and Healthcare Sector" organized by Báo Đầu tư (Investment Review). The forum served as a platform for experts, regulators, and businesses to exchange views on development trends in the pharmaceutical and healthcare sector, opportunities for attracting investment, as well as necessary policy measures to enhance Vietnam’s competitiveness in this field.
At the workshop, many participants noted that Vietnam holds significant potential to make breakthroughs in the biotechnology and pharmaceutical sectors. However, in order to fully seize these opportunities, it is necessary to promptly improve the legal framework, investment policies, and support mechanisms to keep pace with global trends in research and development, clinical trials, and technology transfer.
In particular, Resolution No. 29-NQ/TW (2022) on the continued promotion of industrialization and modernization of the country toward 2030, with a vision to 2045, is considered an important guiding framework for the sustainable development of the pharmaceutical and healthcare sector. Experts assess that concretizing this resolution through appropriate action programs will create a solid foundation to further drive the strong development of the biotechnology and pharmaceutical industries in the coming period.
Despite many notable achievements, Vietnam’s healthcare sector still faces numerous challenges, such as the increasing burden of both infectious and non-communicable diseases, hospital overcrowding, population aging, and disparities in healthcare service quality across regions. These issues require comprehensive innovation as well as close coordination among regulatory agencies, businesses, and relevant organizations to ensure the sustainable development of the sector.
According to experts, current investment trends in the healthcare and pharmaceutical sector are no longer focused solely on manufacturing, but have strongly shifted toward innovation, research and development, and high-tech applications. Therefore, Vietnam needs to establish sufficiently attractive policies to draw in resources, technology, and high-quality projects, thereby improving the healthcare capacity for its population.
The leadership of the Ministry of Planning and Investment also called for contributions from experts, regulatory agencies, and the National Assembly to develop truly effective mechanisms to promote both domestic and international investment in the pharmaceutical sector.
One notable direction proposed is the development of specialized industrial zones dedicated to the pharmaceutical industry. According to Deputy Minister Nguyễn Thị Bích Ngọc, several major global pharmaceutical corporations have already expressed interest in investing in such a model in Vietnam. If pharmaceutical manufacturing clusters can be established, this would serve as an important foundation for attracting strong investment inflows, promoting technology transfer, and gradually positioning Vietnam as a regional pharmaceutical manufacturing hub.
With these strategic orientations, along with the support of regulatory authorities, businesses, and international organizations, Vietnam’s pharmaceutical and healthcare sector is facing a major opportunity to transform strongly toward modern, sustainable development and deeper integration into the global value chain.
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