On July, 27th an economic foreign event was held by Vietnamese Embassy in India to connect Indian investors with the localities of Vietnam. The meeting helped the parties explore and understand the cooperation possibility and came up with idea of construction for the first specialized industrial park model for pharmaceuticals in Vietnam under Pharma Park model which successfully implemented in India.
Overview of the meeting
The meeting was attended by Mr. Pham Sanh Chau - Vietnamese Ambassador in India, Indian investors delegation (especially Global Pharmaceutical - the largest pharmaceutical in India). On the side of Vietnam, there were attendance of leaders of Provincial People’s Committee, Economic Zone Authority of 14 provinces. Of which, SAIGONTEL received direct invitation by the Embassy to introduce idea of construction a model with the attendance of the global strategy consulting company - Roland Berger.
Indian investors are looking for partners and investment location in accordance with Vietnam Pharma Park with a scale of 600-1000 hectares, total investment capital up to USD 500 million, expected to export to the world up to USD 5billion and contribute to create jobs for more than 250.000 workers.
Some fundamental requirements for investing Pharma Park including: Convenient geographical location, near seaport but not too far city center, ideal area of 500-1000 hectares, at least 100 hectares for development of supporting industrial park; ensure energy source, clean water and human resources for production...
at the meeting, Vice Chairman of Long An Provincial People’s Committee - Mr. Nguyen Minh Lam emphasized potentials, advantages and development space of Long An. Saigontel continued to introduce the thoroughly researched model of specialized industrial park for pharmaceuticals, expected to be applied for Tan Tam industrial park. This industrial park completely meet the standards of land bank, infrastructure, human resources... Tan Tap industrial park will be planned into Long An Coastal Economic Zone, bringing highest investment incentives and the best support in terms of regional connectivity.
In addition, the Ministry of Investment and Planning and the Minister - Mr. Nguyen Chi Dung specially entrusted SAIGONTEL to coordinate in developing Innovation Hub model in 4 localities, including Long An that will help maximize general synergy for regional economic development.
After the presentation of SAIGONTEL and Long An provincial delegation, investors said: “We were vey impressed by Saigontel’s presentation. Some interesting things are that Long An has enough large land area, near airport and seaports. The delegation will contact to learn more about incentive policies”.
Currently, FID capital flows are increasing in Vietnam pharmaceutical market, pharmaceutical industry has been received many incentives by the Government...which has promoted SAIGONTEL in attracting investment, developing specialized industrial park model for Pharma Park in Tan Tap industrial park, Long An with a scale of more than 650 hectares. According to The Economic Times, Vietnam & India will be 2 main pillars in the global supply chain re-established after the pandemic.