Vietnam’s Pharma Market Booms Amid Short Supply - News on 17 November 2016

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Vietnam’s pharma market booms amid short supply

The country spent $2.1 billion on imported drugs last year. Vietnam’s pharmaceutical manufacturers met less than half the nation's demand for drugs last year, experts said at a seminar on Monday.

From 2010 to 2015, local pharmaceutical firms saw annual growth rates of 17-20 percent, according to Le Van Truyen, former deputy health minister. Truyen called Vietnam the largest pharmaceutical growth market in the region with a value that's expected to hit $7.2 million in 2020 -- up 71 percent from 2015.

“Vietnam is considered to be emerging within the pharmaceutical world,” Truyen said, adding that the recent expansion of social insurance boosted demand for free drugs. Domestically-manufactured medicines only met 45 percent of demand last year, causing frequent supply shortages at local hospitals.

Data from Vietnam’s General Statistics Office revealed that the country spent $2.1 billion importing meds from external sources in 2015 compared to a mere $1.1 …

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Vietnamese jailed for trafficking women to China

One victim escaped and made her way back to Vietnam; police are still looking for a 15-year-old girl. A court in the central province of Nghe An sentenced a woman to five years in jail on Wednesday for selling a woman and a teenage girl to a Vietnamese trafficker in China for less than $900.

Luong Thi Hang, 31, was charged of human trafficking. Prosecutors say Hang spent some time living in China where she met another Vietnamese woman named Hoai. When Hang returned to Vietnam, in late 2015, Hoai asked her to find women and children to sell in China. Hang returned with her 34-year-old sister-in-law and a 15-year-old neighbor who'd hoped to find work. Hang handed both women over to Hoai in February 2016 in exchange for VND20 million ($890).

Investigators say Hang's sister-in-law was first sold to a Chinese man who rejected her; she was later sent to a restaurant where she was forced to work very hard. The victim escaped in June and found her way back to Vietnam where she reported …

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Six fishermen rescued from sea

A fishing boat with a crew of six fishermen was rescued yesterday after its engine broke down the day before, 43 nautical miles from Bạch Long Vĩ Island off Hải Phòng coast.

The boat, NĐ 92647 TS, called for help on Tuesday after its engine stopped working at sea. Also, its pump was out of order and seawater flowed into the boat. Chairman of Bạch Long Vĩ Island District People's Committee Đỗ Đức Hòa said local authorities, including border guards and coast guards, quickly created a rescue plan to reach the endangered boat. After being rescued, all six fishermen were reported in good health. – VNS …

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Vietnam to reduce natural resource exploitation for sustainable development

Vietnam has maintained economic growth despite the reduction in mining natural resources, but it must begin to reduce exploitation as resources are running out, experts say.

The latest report of the General Statistics Office (GSO) about GDP growth in September 2016 showed that Vietnam’s economy has continued to grow despite a decline in the mining industry. The GDP growth rate in the first nine months of the year was 5.93 percent, lower than the 6.53 percent growth rate obtained in the same period of 2015. This was blamed on the decline of the mining industry. The production index of the industry grew by 0.2 percent in the first quarter, then fell by 5.3 percent in the second quarter and declined further by 6.8 percent in the third quarter.

This means that Vietnam no longer relies on natural resource exploitation. Such reliance will not allow sustainable development. The phrase ‘natural resource curse’ was first put forward by Richard Auty in …

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Main Photo by: Publicdomainpictures.net

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