The EU-Vietnam Free Trade Agreement (EVFTA), which is expected to take effect this year, is forecast to bring about more business and investment opportunities for foreign pharmaceutical firms in Vietnam. Daniel Millard, chief representative of GSK Vietnam, discussed with VIR’s Bich Thuy about the company’s preparations for the FTA.
International pharmaceutical firms are working on plans to expand to and in Vietnam to benefit from the EVFTA. What are GSK’s preparations?
In anticipation of the EVFTA ratification, the industry continues to see very positive developments in Vietnamese regulations that are in line with many commitments in the EVFTA.
We hope that through the implementation of guiding legislations under the Law on Pharmacy 2016, this will enable faster access for Vietnamese patients to innovative medicine and a sustainable legal framework for foreign pharmaceutical companies to operate and further invest in Vietnam.
We and Pharma Group applaud the continued efforts of the government to develop an attractive investment environment and a top-tier healthcare system for Vietnamese patients, and we remain committed to supporting the effective and smooth implementation of new regulations.
The Ministry of Health (MoH) is going to issue a circular for the development of public-private partnership (PPP) projects in the sector. Is GSK interested in PPP projects?
We can all see that the world around us is changing rapidly with big shifts in technology, data, demographics, and patient expectations. In the context of healthcare, the future will require a lot of synergism and partnership.
We believe that PPP is one way in which the Vietnamese society can benefit from leveraging the combination of experience, expertise, technical capabilities, and operation models between the public and private sector to address priority healthcare challenges as well as improve the quality of medical and healthcare services, meeting the public’s needs and expectations.
Along with many pharmaceutical companies, we believe the industry is looking forward to exploring more opportunities to collaborate with medical associations, healthcare institutions, universities, and NGOs in the future to work on ensuring the faster uptake of healthcare innovations, leading to improvements in patient outcomes.
What are GSK's future plans to go sustainable in Vietnam and to contribute more to society? What will you focus on in the country to deal with stiffening competition?
In future, we are looking to ensure business sustainability through continuously contributing to the development of healthcare in Vietnam in both prevention and treatment. We will do this through evolving and improving our healthcare professional education and training activities, contributing to efforts to tackle serious healthcare issues such as antibiotic resistance and non-communicable diseases like asthma and COPD, improving immunisation coverage at the grassroots level, and ensuring that our wide-ranging innovative portfolio is accessible and available for patients and healthcare professionals whenever they need them.
Our consistent focus is to deliver sustainable business performance by applying cutting-edge science and brilliant execution to improve health. Our priorities will be to strengthen our pipeline by launching innovative medicines and vaccines, delivering the competitive and sustainable performance, and finally building trust about who we are and how we work.
Ultimately, sustainability will come through achieving our ambition of becoming one of the most innovative, best performing, and trusted healthcare companies, helping people to do more, feel better, and live longer.
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