Panelists at the forum on innovation in the healthcare sector of Việt Nam. — Photo VIR

HÀ NỘI — Local and international health experts, policymakers and pharmaceutical firms discussed innovation in the healthcare sector of Việt Nam at a forum in Hà Nội.

The event, entitled 'Empowering Innovation for Việt Nam's Sustainable Healthcare', was organised by the Vietnam Investment Review on September 25.

It was a forum to discuss solutions and motivations for innovation in the medical and pharmaceutical industry, helping to sustainably develop the healthcare industry and increase access to high-quality healthcare for people.

Opening the event, VIR editor-in-chief Lê Trọng Minh highlighted the important role of healthcare innovation in changing the detection and treatment of diseases and transforming the global healthcare industry.

“To ensure innovation and sustainability in the healthcare industry, Việt Nam should promote research and development and technology transfer in disease prevention, detection, diagnosis and treatment. This is coupled with the production of medicines, vaccines, biologicals and high-quality medical equipment. The country should also perfect policies on health in line with reality while promptly adjusting relevant legal regulations to address emerging issues,” Minh said.

“To facilitate the goal, it is vital to update major global trends, learn the best practices from developed countries and gain insights from relevant stakeholders. This is particularly important as Việt Nam is completing its legal framework for the healthcare industry to enter a new phase of development,” Minh added. 

Deputy Minister of Health Đỗ Xuân Tuyên speaks at the forum. — Photo VIR

Speaking at the event, Deputy Minister of Health Đỗ Xuân Tuyên said that 2024 is a pivotal year with the review and amendment of important laws that have shaped the operations of the medical and pharmaceutical industry, contributing to promoting a sustainable health system and creating a favourable ecosystem to promote innovation.

“The Ministry of Health is reviewing and amending the Pharmacy Law to submit to the National Assembly for consideration next October. The law’s orientation is to attract investment to develop technology research activities, production or technology transfer to produce pharmaceutical substances and new drugs, original brand-name drugs, rare drugs, first generic drugs, high-tech drugs, vaccines and biological products, drugs made from blood and plasma of foreign pharmaceutical corporations in Việt Nam to proactively and sustainably develop domestic production while promoting export activities to advanced markets,” said Tuyên.

“Việt Nam is importing 80 per cent of medicinal ingredients but has great potential in raw material areas. According to the revised Pharmacy Law, we propose priorities for drug production in Việt Nam, including priority for investment, land and licensing of drug circulation, especially innovative drugs and cancer drugs,” added Tuyên. 

AstraZeneca Vietnam general director Atul Tandon speaks at the event. — Photo VIR

AstraZeneca Vietnam general director Atul Tandon praised the efforts of Việt Nam to drive innovation and development in the health industry.

Tandon said that AstraZeneca has built many laboratories to improve its diagnostic capacity, with initiatives that can be replicated from Việt Nam to other countries in Asia. With its patient-centric approach, the company tracks the patient journey and accompanies patients from screening to diagnosis and treatment, thereby contributing to sustainable healthcare development.

“We firmly believe that collaboration is key to driving meaningful healthcare innovation. To foster stronger partnerships with local stakeholders. Through these strategies, we aim to create a collaborative ecosystem where diverse stakeholders can work together to address healthcare challenges and improve patient outcomes,” said Tandon.

Pharma Group chairman Darrell Oh said that Việt Nam has a lot of potential to attract FDI due to its growing domestic market, political and economic stability and 16 active free trade agreements.

“Although there have been some developments and growth in the pharma sector in recent years, Việt Nam has yet to fully capitalise on its strengths and competitive advantage. Given the intense competition from neighbouring countries that are offering incentives to attract investors and continuously streamline their regulations, Việt Nam must accelerate its efforts in this race to attract FDI and innovation to the country."

To attract investment, Oh suggested Việt Nam create an environment that is more conducive to business and investment. This is done via policies that are predictable and sustainable for companies to bring in innovation early and reliably invest for the long term.

“What’s also important is a strong commitment to the streamlined regulatory process, adhering to regulatory timelines and intellectual property protection. Việt Nam should provide incentives that prioritise innovation, such as R&D hubs and investment into early phases of product development such as clinical trials and advanced manufacturing capabilities,” added the Pharma Group Chairman. — VNS