A webinar was jointly held by the Vietnamese Embassy in India and Sri Avantika company on Tuesday with the aim of discussing the construction of a pharmaceutical park in Da Nang.

According to Vietnamese Ambassador to India Pham Sanh Chau, the Pharmaceutical Park project is an investment proposal previously made by more than 30 large Indian pharmaceutical enterprises with the desire to form an industrial park exclusively for the pharmaceutical industry in Viet Nam.

During the virtual event, Vice Chairman of the Da Nang People's Committee Ho Ky Minh introduced the great potential and advantages of Da Nang to domestic and foreign investors.

The city is eyeing to become a smart eco-city, a hub for entrepreneurship and  innovation, and a livable coastal city that can be on par with other Asian peers in the future.

Da Nang is, for the time being, is focusing on developing three main pillars, namely tourism, high-tech industry and marine economy, with 5 strategic breakthroughs, namely tourism, high-quality services associated with vacation properties; seaports and aviation associated with logistics services; hi-tech industry in combination with the construction of innovative start-up urban area; IT, electronics and telecommunications associated with digital economy; and hi-tech agricultural products and fisheries.

In particular, the pharmaceutical industry is one of the aspects in which the municipal administration has paid heed to calling for investment.

Vice Chairman Minh highly appreciated the idea of forming a pharmaceutical value chain model in Viet Nam through the establishment of such a pharmaceutical park in Da Nang.

The Da Nang Hi-Tech Park as well as soon-to-be-developed industrial parks such as Hoa Ninh and Hoa Nhon with many outstanding incentives and preferential policies on land rental fees, taxes, and pre- and post-licencing support, may offer many choices to investors for the selection of the project’s site.

The Da Nang government is committed to creating all favourable conditions and looks forward to welcoming Indian investors to effectively implement the project in Da Nang as soon as possible.

“We hope to continue working with Indian investors and foreign economic groups to discuss the Pharmaceutical Park project. At the same time, we look forward to welcoming investors to make a field trip to Da Nang when COVID-19 is put under control to directly assess the feasibility of the project”, said Vice Chairman Minh.

Reporting by TRIEU TUNG- Translating by A.T