The pharmaceutical market of Vietnam in 2017 grew by 10% to $5.2 billion. Increase in demand for drugs in many respects is explained by growth of the population and increase in purchasing power of citizens in the country. For the last 10 years the average level of expenses on drugs grew more than by 5 times: from $10.85 for the person in 2007 up to $56 — in 2017. Nevertheless, availability of hi-tech medicines is still an important argument at making decision on purchase.
Import of drugs from Russia
In April, 2018 plans of an entry into the Vietnamese market were announced by the Russian company "Nativa".
"We can offer the Vietnamese market high-demanded medicines for treatment of oncological diseases and bronchopulmonary pathologies, - Alexander Malin, the CEO of Nativa LLC said.
Delivery of the Russian pharmaceutical products to Vietnam is not exceeded by $3 million though the goods turnover between the countries quickly grows.
In 2015 Vietnam signed the agreement on the free trade zone with the Eurasian Economic Union (became effective in 2016). At the end of 2017 the goods turnover with Russia reached $5.3 billion, growth in comparison with 2016 was 31%. By 2020 Vietnam expects to increase trade volumes between the countries twice – to $10 billion.
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