HCMC – A consortium led by Makara Capital Partners Pte., Ltd, Sakae Corporate Advisory Pte., Ltd, and Newtechco Group will develop a large-scale pharmaceutical and biomedical industrial zone in the northern province of Thai Binh.
The project will cover 300 hectares in the northwestern part of the province and is expected to create around 18,000 jobs. The zone will include manufacturing facilities, research and development centers, a herbal medicine research area, logistics and warehousing, and supporting infrastructure.
During a recent meeting with the consortium, Deputy Minister of Health Do Xuan Tuyen stressed the ministry’s commitment to supporting the project and facilitating necessary procedures.
He highlighted the Government’s incentives for pharmaceutical companies, including tax breaks and land lease benefits. “Businesses producing and trading biological drugs, cancer treatments, vaccines, and new-generation drugs, or those transferring technology, will be prioritized for inclusion in the list of drugs covered by health insurance,” he said.
Douglas Foo, chairman of Sakae Holdings, emphasized the company’s plan to introduce preventive healthcare solutions in Vietnam, including dietary changes. “We aim to conduct research, transfer technology, and foster startups in the medical field,” added Foo.
The project is expected to supply the domestic market with pharmaceuticals and medical equipment and target high-value exports to ASEAN countries.
The consortium has already initiated discussions with local authorities to develop detailed planning and attract secondary investments.
