Viet Nam has taken steps to ensure an open, fair and transparent environment for foreign pharmaceutical companies to do business in Viet Nam , said Deputy Minister of Health Cao Minh Quang.

At a discussion between the Healthy Ministry and foreign pharmaceutical businesses in Hanoi on January 13 he also fielded questions and provided information on Viet Nam’s legal framework related to the pharmaceuticals industry.

The discussion included a chance for participants to ask about clinical trials of new medicines, Vietnam’s WTO commitments and what can be expected in the coming time, among other issues.

The Ministry also announced that as of January 1, foreign and foreign-owned businesses without a trade presence in Viet Nam may import but not distribute pharmaceutical products.

Viet Nam welcomes the participation of all economic sectors in the production, trade and distribution of medicine, the Ministry said.

It also highlighted that international cooperation will be utilized in ridding the country of fake, low-quality and non-origin medicine.

Also, price structure changes will be made public in every phase, which will help the industry achieve its economic, medical and social objectives.

The Ministry also said it encourages foreign investment into the production of medicine from local materials and ingredients.

In 2008, Viet Nam spent more than 1.4 billion USD on pharmaceuticals, a 25% increase against 2007 and half of which were locally produced. (VNA)