Investment potential in Vietnam's pharmaceutical industry in the digital age

NGUYỄN ĐĂNG |

With the strong application of science and technology in the digital age, the pharmaceutical industry promises to be one of the key industries of Vietnam.

Opportunities for Vietnam's pharmaceutical industry in the digital age

On the sidelines of the World Economic Forum (WEF) in Davos, Switzerland, a panel discussion with the theme: “Vietnamese pharmaceuticals in the digital age - Future from innovation and technology”, co-organized by the Ministry of Planning and Investment, the Ministry of Foreign Affairs and FPT Corporation, attracted the participation of global pharmaceutical corporations.

Sharing at the opening of the event, Mr. Truong Gia Binh, Chairman of FPT Board of Directors, introduced the potentials of attracting investment in Vietnam such as comprehensive support from the Government with national strategic orientations in technology, technology human resources, etc.

According to Mr. Binh, pharmaceuticals is one of the industries that will apply AI the most, especially in vaccine and drug development. “With 10 years of experience in AI research and development and working directly with leading organizations and experts in this field, we have seen many new ideas arising from AI in a variety of fields,” Mr. Binh said.

At the event, representatives of pharmaceutical corporations such as AstraZeneca, Roche, Sanofi, Novartis, MSD, Pfizer, Merck, Sumitomo, Pharma Group... highly appreciated the improvements in the special legal framework in the Pharmacy Law to increase patients' access to new drugs and vaccines, and were excited about the orientations demonstrating Vietnam's strong commitment to promoting new technological advances.

Nganh duoc pham tai Viet Nam co tiem nang phat trien rat lon. Anh: Nguyen Ly
The pharmaceutical industry in Vietnam has great potential for development. Photo: Nguyen Ly

Pharma Group representative, Mr. Burak Pekmezci shared his impressions of Vietnam's ambitious GDP growth target and vision of becoming a developed, high-income country by 2045.

Mr. Burak Pekmezci also committed that Pharma Group is ready to carry out three important actions, including accompanying the Ministry of Health to implement important goals of the industry; sharing international models and experiences in science, technology development, innovation, and digital transformation in the healthcare sector; and contributing ideas to improve the legal framework to help Vietnam realize its goals.

Commitment and companionship of FPT

In the field of Healthcare, FPT aims to build a comprehensive digital healthcare ecosystem. Every year, FPT's healthcare solutions support about 30 million medical examinations and treatments, accompanying more than 300 hospitals nationwide in building a smart healthcare system that puts people at the center.

The digital transformation solution for Long Chau Pharmacy has helped people have a seamless shopping experience on web, mobile, and in-store channels, averaging less than 2.5 minutes/transaction. At the same time, it helps this pharmacy chain manage multi-channel orders and optimize inventory, reducing out-of-stock situations to less than 5% (5 times reduction).

Nguoi dan Viet Nam da co the mua thuoc truc tuyen thong qua ung dung VNeID. Anh: Huynh Anh
Vietnamese people can now buy medicine online through the VNeID application. Photo: Huynh Anh

Most recently, Long Chau pharmacy and the Center for Research and Application of Population Data and Citizen Identification (RAR Center) under Department C06 - Ministry of Public Security held a ceremony to announce the deployment of electronic authentication service of FPT Long Chau pharmacy via VNeID.

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