The Vietnamese laboratory market
Vietnam's economy continues to grow with GDP improving by 6.5% in 2015 (cf. 2014: 5.9%). GDP for 2017 is expected to reach the seven percent mark. The free trade agreement concluded with the EU at the end of 2015 and the multilateral Trans-Pacific Strategic Economic Partnership (TPP) will facilitate market access and enhance export opportunities.
- Laboratory technology market• There is a total of laboratory technology imports rose to USD 400 million in 2014, an increase of 60 percent since 2009.
• In all there are approx. 10,000 laboratories in Vietnam, around 900 of which have been certified to ISO 17025.
• The Ministry of Health is planning to set up 40 reference laboratories.
- Chemicals industry• Vietnam imports most of its chemical goods. The value of the chemical products imported grew by 7.2% to USD 2.8 billion in 2015.
• Important areas of application inclide the production of plastics, fertilizers, medicines, paints and varnishes.
• Several refineries and petrochemical complexes are planned or under construction, a case in point being the new refinery set to be built in Nhon Hoi which will then be the biggest in Asia.
- Pharmaceuticals industry• Vietnam is currently one of the fastest growing pharmaceuticals markets in South East Asia.
• Market volume in 2014 is estimated at some USD 3.9 billion. Forecasts anticipate average growth of 15% per annum generating a volume of around USD 8 billion by 2020.
- Biotechnology• Three national centers for biotechnology will be established as part of a recently approved development plan to be executed from now to 2025. The centers will be equipped with modern facilities of an international standard, each employing a capable workforce of 200-500 persons.
• The ten existing national level biotechnology laboratories will also be provided with enhanced facilities.
- Food safety• With 5,500 producers of foodstuff and approx. 1,700 producers of beverages, Vietnam numbers among the biggest exporters of food and drink. The rise in the export of among others processed fish products makes food quality monitoring increasingly important.
• The safety of food in the domestic market is set to be improved further with the ministry planning various measures including the continued expansion of the country's food analysis facilities
Sources: www.gtai.de / www.vietnamplus.vn / www.andamanmed.com
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