Vietnamese pharmaceuticals eye Cambodian market

Vietnamese medical drugs have been exported to neighbouring Cambodia in recent years, winning the enthusiastic support of local consumers.

Cambodia is seen as a ripe market for the Vietnamese pharmaceutical sector to reach as the country welcomes a large number of foreign companies and tourists every year.

A representative of Phnom Penh-based F.D.Pharma Col, Ltd said apart from traditional markets such as Malaysia , Indonesia , China and Thailand , the company is also importing made-in-Vietnam pharmaceutical products.

The company’s import revenue from Vietnam exceeds 1 million USD per year, a fairly large number compared with Cambodia ’s population of 13 million people.

However, due to limited investment in marketing, Vietnamese medicines in the market are struggling to compete strongly with those from China , India and Thailand .

Additionally, a range of difficulties regarding international payment has hindered Vietnamese companies from expanding their operations in Cambodia , resulting in their low export values.

According to Nguyen Quoc Dinh, Chairman of Management Board and Deputy General Director of Imexpharm Pharmaceutical JSC, since the end of 2012, his company has successfully accessed the Cambodian market.

However, as fake and low-quality products have also flooded into the country and payment risks have grown, the company currently has no plan to expand its operation this year and will instead focus on maintaining its momentum from 2013, he said.

Apart from Imexpharm, other companies such as DHG Pharmaceutical JSC and Domesco Medical Import-Export JSC are also furthering their reach in the neighbouring country.-VNA

(Source: http://en.vietnamplus.vn/Home/Vietnamese-pharmaceuticals-eye-Cambodian-market/20142/46321.vnplus)