On 24th November 2021, the British Chamber of Commerce Vietnam (BritCham Vietnam) has successfully organised the second episode of the Sector-focused Webinar Series - Vietnamese Pharmaceutical Market. The event has gathered tremendous interest from 78 attendees whose questions have made a long list before and during the webinar.
ACSV Legal is delighted to be the exclusive sponsor of the episode. A big thanks to Britcham Vietnam for organising this series, the webinar moderator Sam Wood (Deputy Consul General and Head of Trade & Investment, British Consulate General), and the wonderful guest speakers: Elaine Chew (Special Counsel, ACSV Legal), Nitin K. (Chairman & General Director, AstraZeneca Vietnam & Asia Area Frontier Markets), and Alex Ryland (Chief Commercial Officer, Pharmacity).
Across one hour of the webinar, the panel have discussed legislation, challenges, and opportunities of the entire pharmaceutical industry and its segments. Despite progress made to simplify the process of obtaining import and distributing certificates for imported products, it is still a challenge to foreign-invested enterprises. On the other hand, the aging world population, technological advances, and the escalation of chronic and contagious diseases have substantially altered the status quo of the industry. With its growing FDI inflow, highest CARG in ASEAN, and increasing M&A deals, Vietnam has proven itself to be a promising market for not only vaccines and prescription medicines, but also the retail segment. Although slowed down by the peak of Covid-19, it continues to welcome the growing market share of pharmacy chains, which have now accounted for more than 20%. This signals the domestic trend towards a more well-structured distribution network.
By and large, Vietnam may not be the easiest market, but it offers various opportunities for aspired international businesses. The Q&A session also touched on the need to improve the practice of Intellectual Property Protection Rights in pharmaceutical industry, which has provided food for thought for future discussion.
The full record of the webinar is now available on the BritCham Vietnam’s Youtube Channel.
For more information, please send an email to info@acsvlegal.com.
Download our Vietnam Business Guide 2021 for more detailed information.
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