The Embassy of Sri Lanka in Vietnam in collaboration with Export Development Board (EDB) organized the participation of Sri Lankan businesses at the 22nd edition of International Medical, Hospital & Pharmaceutical Exhibition Viet Nam Expo, which was held from 1st to 3rd August 2024 at Saigon Exhibition & Convention Center (SECC) in Ho Chi Minh City.

Leading Pharmaceutical companies in Sri Lanka, Astron Ltd, Morison Ltd and Gamma InterPharm (Pvt) Ltd participated for the first time at the “MediPharm Expo 2024”, in order to explore the market opportunities in Viet Nam.

The Sri Lanka Pavillion was ceremonially inaugurated by Mr. Vu Tuan Cuong, Director General of Viet Nam Drug Administration, Mrs. Nguyen Van Nga, Director General, Department of Southern Affairs of the Ministry of Industry and Trade of Viet Nam, Mr. Pham Dang Khanh, Vice General Director of Vinexad, , Mr. Dao Van Sinh, Chief Representative of the Ministry of Health in HCM City, Dr. Le Ton Dung, President of Viet Nam Association of Aesthetics and Internal Medicine (Viet Nam Association of Plastic Surgery) and Mrs. Shirley Marguerite Hopman-Aluwihare, Honorary Consul of Sri Lanka in Ho Chi Minh City.

In Viet Nam, medicine purchases are predominantly tender-driven, which is 80% by the government and 20% by the private sector whereas 90% of the hospitals are government owned. While there are around 350 plus manufacturing plants in Viet Nam, more than 50 of those plants are EU GMP certified. At present, 50% in value and 70% of the volume of the total pharmaceutical demand of Viet Nam is manufactured within the country and it is expected to expand local manufacturing up to 80% of the value of pharmaceutical demand within the next 3-4 years. Viet Nam is a chemist-driven market, where doctors typically prescribe medications by their generic names. As 90% of the population has medical insurance coverage, pharmacist decide the brand of the drug depending on the insurance coverage. In order to enter into Viet Nam market, Pharmaceutical products have to go through a rigorous application procedure which takes around 18 months. However, Over The Counter (OTC) medicine, nutritional supplements and herbal medicine has a fairly easy entry within six months, depending on the demand for the product and the distributor/importer.

During the three-day visit, the Sri Lankan companies got the opportunity to visit Hong Duc General Hospital III in Ho Chi Minh City which provided insights on the local hospital system for procurement of medicines. Further, the Embassy organized a networking session for the Sri Lankan exhibitors with the Business Network International (BNI) in Ho Chi Minh City, which provided further networking opportunities with the industry stakeholders.

During their stay, the Sri Lankan companies had meetings with a number of potential distributors and importers and was able to establish solid contacts with potential distributing companies with whom they will enter into agreements in future for introducing their medicine to Viet Nam.

Ms. Kishani Wickramasinghe, Minister (Commercial) of the Embassy facilitated the companies in arranging business meetings and networking session with the BNI.

The 8th China -South Asia Expo and the 28th China Kunming Import and Export Fair which was co -hosted by the Ministry of Commerce of China and the People’s Government of Yunnan province together with the Commercial Authorities of the South Asian countries was held from 23rd to 28th of July, 2024 in Kunming. The Expo was attended by high level dignitaries, official delegations and business delegations from South Asian and South East Asian countries.

Hon. Mahinda Yapa Abeywardena, Speaker of the Parliament of Sri Lanka was the chief guest of the 8th China -South Asia Expo. Sri Lanka Pavilion was represented by 106 companies covering diverse products such as Ceylon Tea, Gems and Jewellery, Coconut kernal products & Cocopeat, Handicrafts, Batiks, Wellness products, processed food and confectionary.

This year's theme of the event is "Solidarity and Coordination for Common Development". The Expo featured 15 pavilions including Science and Technology, Manufacturing, Green Energy, Modern Agricultural, Domestic Cooperation, Overseas Pavilion, South Asia Pavilion etc. representing over 2000 exhibitors. 

Parallel to the Expo, many forums were organized with great interaction with the participation from the South Asian Countries. Ministry of Trade, Commerce and Food Security, Embassy of Sri Lanka in Beijing represented Sri Lanka delivering Country speeches at these events.  China South Asia Cooperation Forum, Digital Co-operation Initiative Matchmaking Conference, Seminar between Chinese and South Asian Governments, Industries, Universities and Research Institutions, Tea Festival of South Asian Countries, Online and Offline Commodity Promotion, Seminar on Fresh Fruits and Vegetable Promotion are represented by Sri Lanka.

China -South Asian Expo has become a platform for mutual beneficial cooperation on diverse sectors such as trade & investment, culture, education, and people to people friendship. Sri Lankan companies including SMEs were received an opportunity for understand Chinese market and the current trend and development to focus the business expansion to Chinese market.

The recently launched ‘Trade Up Sri Lanka” SME sector development programme by the Ministry of Trade Commerce and Food Security together with the Department of Commerce will focus on the China market in future to find more business opportunities for the emerging SME entrepreneurs.

The Ministry of Commerce of the Peoples’ Republic of China and the Department of Commerce of Yunnan Province reassured the support to be extended to the development of the bi-lateral trade between two countries including the SME sector development of Sri Lanka.

The business delegation was organized by the Ministry of Trade Commerce and Food Security together with the Department of Commerce of Sri Lanka with support of the Embassy of Sri Lanka in Beijing. Mr A M P M B Atapattu, Secretary to the Ministry of Trade Commerce and Food Security led the business delegation of Sri Lanka. International Finance Corporation (IFC) and CHEC Port City Colombo (Private) Limited supported to the succession of the event and the investment opportunities in the Colombo Port City were promoted throughout the event.

Ministry of Trade, Commerce & Food Security
06.08.2024