The license has somewhat shown Vietnam’s relaxed management of drugs market which is likely to reach US$7.7 billion by 2021.
Vietnam’s medical equipment and pharmaceutical markets have seen double-digit growth in recent years and that momentum would continue, making the country increasingly attractive to foreign investors, experts have said.
The food and beverage (F&B) industry in Vietnam will likely see a growth rate of 10.9% for the 2017-2019 period, Business Monitor International (BMI) has forecast.
With its annual stable growth rate of about 10%, the country’s young population with increasing income and a trend to consume ready-to-eat food, especially organic, the food processing industry offers many opportunities for investors.
The Republic of Korea is now the fourth biggest importer of Vietnamese fruits and vegetables.
Vietnam, a market of 93 million people, is seeing rapidly growing consumer demand for food and beverage (F&B) products, offering ample space for the F&B sector to expand.
The Vietnamese drug market, valued at US$5.2 billion, is attracting more foreign investors and multinationals.