July 26, 2006 | 11:49 (GMT+7)
In 2007: Foreign pharmaceutical companies to open branches in VN
PANO - As of January 1, 2007, foreign pharmaceutical companies can open their branches in Vietnam, under Vietnam’s commitment to the World Trade Organisation (WTO), said an official of the Vietnam Drug Administration.
According to Dr. Cao Minh Quang, Head of the Vietnam Drug Administration, this is the implementation of the first commitment of the Vietnamese pharmaceutical industry to WTO.
Experts commented that this is an opportunity for Vietnamese consumers to buy products of high quality and lower prices but it is a challenge for local pharmaceutical producers, who import and deliver medicines for foreign firms in Vietnam.