PM calls on Abbott to expand investment in Vietnam
Prime Minister Pham Minh Chinh on August 9 suggested US healthcare giant Abbott expand its investment and upgrade the quality of its pharmaceutical manufacturing plants in Vietnam, thus helping promote the domestic pharmaceutical industry.
Prime Minister Pham Minh Chinh (R) and Robert Ford, Abbott's Chairman of the Board and Chief Executive Officer. (Photo: VNA)
Hanoi (VNA) – Prime Minister Pham Minh Chinhon August 9 suggested US healthcare giant Abbott expand its investment andupgrade the quality of its pharmaceutical manufacturing plants in Vietnam, thushelping promote the domestic pharmaceutical industry.
At a reception in Hanoi for Robert Ford, Abbott'sChairman of the Board and Chief Executive Officer, the PM told his guest thatVietnam considers the US a leading partner in its foreign policy, and wishes toenhance the bilateral comprehensive partnership in a more practical and effectivemanner and on the basis of mutual respect for independence, sovereignty andterritorial integrity, and political institutions of each other.
The leader used the occasion to thank the USgovernment and businesses, particularly Abbott, for their support to Vietnam inthe COVID-19 fight, and appreciated the group’s practical and effective contributions to nationaleconomic development as well as the Vietnam-US relations.
Both sides noted with pleasure the outstandingdevelopment of the Vietnam-US ties over the past time, saying the US has becomeVietnam’s biggest importer, while Vietnam has been the US’ seventh largesttrade partner globally and its biggest in the Association of Southeast Asian Nations(ASEAN).
Chinh affirmed that the Vietnamese government alwayslistens to opinions raised by enterprises, including those from the US, and createsoptimal conditions for them to expand operations, especially in digitaltransformation, digital economy, manufacturing and processing, health care,high-tech, and high-quality personnel training.
He spoke highly of Abbott’s introduction of cutting-edgemedical technologies to the Vietnamese market, and asked firms from the US and other countries to further invest in Vietnam, helpingthe country in the field of nutrition.
For his part, Ford lauded Vietnam’s developmentachievements, especially in socio-economic recovery post pandemic, as wellas the country’s open policies towards enterprises.
Vietnam holds potential for the development ofclinical research and large-scale pharmaceutical production, he said, stressingthat Abbott will continue its long-term investment in the country.
Abbott has been operating in Vietnam since 1995, withtwo pharmaceutical manufacturing plants at present. /.
2023 marks the 10th anniversary of the establishment of a comprehensive partnership between Vietnam and the United States. Over the course of the decade, the economic, trade, and investment relationship has become increasingly developed, effective, and substantive.
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The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Prime Minister Pham Minh Chinh (R) and Robert Ford, Abbott's Chairman of the Board and Chief Executive Officer. (Photo: VNA) 
