Vingroup sets up drug company
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Vietnam’s largest private company, Vingroup, has established pharmaceutical company Vinbiocare with a charter capital of VND200 billion ($8.6 million).
Its focus will be on medicine, vaccines.
Vingroup owns 69 percent of Vinbiocare Biotechnology JSC, its formal name, which is headquartered in Hanoi, while Phan Quoc Viet, CEO of tech firm Viet A Technology Corporation, owns 30 percent. The remaining 1 percent is held by an individual investor, Phan Thu Huong.
Mai Phuong Noi, deputy CEO of Vingroup, is its chairwoman.
Vingroup entered the pharmaceutical industry in 2018 by establishing Vinfa JSC and setting up a plant in Gia Binh District in the northern Bac Ninh Province.
Questions & Answers
Q.What will be the primary focus of the newly established Vinbiocare company?
What will be the primary focus of the newly established Vinbiocare company?
Vinbiocare will focus primarily on the development and production of medicine and vaccines. This indicates a clear direction for their operations within the pharmaceutical industry going forward.
Q.When did Vingroup first enter the pharmaceutical industry in Vietnam?
When did Vingroup first enter the pharmaceutical industry in Vietnam?
Vingroup made its initial entry into the pharmaceutical industry in 2018. This was marked by the establishment of Vinfa JSC and the setting up of a manufacturing plant in Bac Ninh Province.
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