News

Hanoi, 8 June 2016 – A European Union-funded project, The project "Scaling up Ethical BioTrade Initiatives within phytopharmaceutical sector", funded by European Union, was launched yesterday in Hanoi.today, helping Vietnamese phytopharmaceutical enterprises enhance competitiveness by bringing their products up to international standards.

The project, worth of two million Euro and operational between 2016 and 2020, is jointly implemented by Helvetas Vietnam, National Institute of Medicinal Materials (NIMM) and Center for Rural Economy Development (CRED). Vietnam is in possession of a large resource of natural ingredients, which could be used as raw materials for pharmaceutical, cosmetic and food industries. However, the domestic supply has been dwindling due to overexploitation and lack of conservation solutions. Manufacturers, as a consequence, are having to import raw materials from countries such as China or India in large quantity but at questionable quality. The national pharmaceutical sector therefore becomes vulnerable to foreign competition even on its own market, let alone penetrating international markets.

The project is expected to involve 12 phytopharmaceutical enterprises, 5,000 farmers/ households and relevant agencies from Ministry of Health, Ministry of Natural Resources and Environment. Its objective is to increase income of farmers/ households through supports for effective implementation of Ethical BioTrade value chains, consolidation of knowledge and skills in cultivating, harvesting/collecting, and processing of ingredients, all in a manner that respects biodiversity and environmental protection. The project will also make every effort to contribute to the improvement of a policy environment in favor of sustainable development of phytopharmaceutical sector in Vietnam.

Speaking at the event, Mr. Alejandro Montalban, Head of Cooperation and Development of the EU Delegation to Vietnam stated:

"This marks an important milestone in the promotion of a sustainable Ethical BioTrade business model within the natural ingredients sector of Vietnam. We hope to see the goal of making Vietnam an internationally recognized supplier of natural ingredients become visible and noticeable in the future”.

The selected phytopharmaceutical enterprises accounts for about 80% of medicinal material based products market in Vietnam and are those with commitments to sustainability by ethical sourcing of ingredients and establishing of value chains in compliance with international standards. The workshop was honored to welcome representatives of Ministry of Health, Ministry of Agriculture and Rural Development, Ministry of Natural Resources and Environment, and Ministry of Industry and Trade, next to representatives of World Health Organization, United Nations Conference on Trade and Development, Vietnamese pharmaceutical firms and local partners. It was a prime example of all players coming together in a constructive way to tackle a common issue, allowing them to have a stronger voice as everyone work as one toward a shared vision

Launching of "Scaling up Ethical BioTrade Initiatives within phytopharmaceutical sector" project

BioTrade Products and Concepts at Vietnam Food Expo 2019