Vingroup dives into pharmaceuticals with 11 VinFa stores

The VinFa stores will sell Vingroup's Oriental medicine products

Last weekend, Vingroup has launched the chain of 11 VinFa pharmaceutical stores in Hanoi, located next to Vinmart supermarkets or convenience stores in urban areas and apartment buildings.

The local pharmaceutical retail market is large but has yet to saw the emergence of a dominant player. Perhaps this inspired Vingroup to launch VinFa right after the appearance of An Khang Pharma of Mobile World and Long Chau Pharma of FPT Retail at the end of 2017 and early this year.

Following the success of the Vinmec Medical System and realising its expansion plan in the healthcare sector, in April 2018 Vingroup announced entering the pharmaceutical industry with the establishment of VinFa JSC.

The conglomerate also invested into VinFa Drug Research and Production Centre in Gia Binh district, Bac Ninh province. With a total investment of VND2.2 trillion ($95.7 million), this project’s first phase will be built in an area of nearly 10ha following international standards, including research, production, logistics, and support works

Along with pharmaceutical research, manufacturing, trading, and export-import tasks, VinFa will focus on the preservation, research, and development of traditional Oriental medicines from Vietnamese herbs. VinFa will also focus on the production of healthy food, vaccines, and medical equipment of international standards to better meet the high demand for healthcare and treatment.

With investment from Vingroup, the entire production process at VinFa will be equipped with the latest and most advanced technologies to optimise the efficiency and quality of pharmaceutical products.

In addition to exploiting the country’s precious herbal resources, VinFa plans to promote co-operation with prestigious pharmaceutical production industries from the US, Europe, and Australia. The aim is to receive consultancy, technology, and technical expertise as well as facilitate the import of raw materials and products.