<article><a href="https://www.dealstreetasia.com/tag/Vingroup/">Vingroup</a>, Vietnam&#8217;s leading real estate developer run by Forbes billionaire Pham Nhat Vuong, has announced its foray into the pharmaceutical market with the launch of a $96.8-million entity, Vinfa JSC.</article>

<a href="https://www.dealstreetasia.com/tag/Vingroup/">Vingroup</a>, Vietnam&#8217;s leading real estate developer run by Forbes billionaire Pham Nhat Vuong, has announced its foray into the pharmaceutical market with the launch of a $96.8-million entity, Vinfa JSC.
In a statement, Vingroup said, it intends to produce medicine derived from herbs in Vietnam. In addition, Vinfa will also target production of vaccines and medical devices for exports.
“In addition to exploiting the precious resources of the nation, Vinfa will also promote cooperation with partners in US, Europe, Australia for technology transfer and import of raw materials,” the group said in the statement.
The Vinfa project has a total investment capital of VND2.2 trillion ($96.8 million), expected to come into operation in the third quarter this year.
Before entering into the pharma space,  Vingroup had launched an high-end private hospital Vinmec International Hospital. It targets to increase its presence to 10 hospitals by 2020, including opening the Vinmec University of Health Sciences (VUHS) in 2019.
The Vietnamese pharma market was estimated to record revenue of $5.2 billion in 2017, a 10 per cent increase from last year. The market is set for double-digit growth within the next five years, according to Vietnam Report Company (VNR).
Vietnam has attracted many large foreign pharma companies such as Abbott, Bayer HealthCare Pharmaceuticals, Nipro Pharma Corporation and Sanofi Taisho Group.
In deals in this space in the country, Mobile World Investment Group (<a href="https://www.dealstreetasia.com/tag/Mobile-World/">MWG</a>) announced its acquisition of Ho Chi Minh City-based Phuc An Khang pharmacy for an undisclosed sum. In early December, chairwoman of FPT Digital Retail JSC Nguyen Bach Diep bought Long Chau pharmacy, Ho Chi Minh City’s biggest drugstore chain.
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Vingroup launches Vinfa JSC, forays into Vietnam's pharmaceutical market.

Vietnam's realty major Vingroup forays into pharma sector

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Vietnam's realty major Vingroup forays into pharma sector

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