31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Investment / News
Indian enterprises to invest $12 billion in Pharmaceutical Park project in Hai Duong
Phi Nhat 18:24, 2022/02/16
This pharmaceutical park is expected to be a strategic lever to turn Vietnam into a leading pharmaceutical research, development and production base in Southeast Asia.

The northern province of Hai Duong has been selected as the location of a pharmaceutical park project worth US$10-12 billion invested by Indian enterprises.

 An overview of the meeting between Hai Duong province's authorities and Indian investors. Photo: haiduong.gov.vn

The latest information was given at a recent meeting between the provincial leaders and Indian investors to discuss the Pharmaceutical Park project.

At the event, the Vietnamese company Dai An Urban-Industrial Zone Development Corporation JSC and Indian partners (Sri Avantika Contractor Ltd and SMS Pharmaceuticals) signed a cooperation agreement for developing the project.

After a period of surveying many locations in Vietnam, the Indian investors, including SMS Pharmaceuticals Ltd, Sri Avantika Contractor Ltd, Leaps and Bounds Consulting Co., Ltd, decided to choose an area shared by Gia Loc, Thanh Mien and Binh Giang districts to house the Pharmaceutical Industrial Park project, with a total planning area of ​​about 960ha.

The province’s authorities said that this is a very convenient location, adjacent to the intersection connecting to the Hanoi-Hai Phong highway while traveling to the capital city only takes about 25 minutes and to Hai Phong Port about 50 minutes.

The location is favorable as it is linked with other provinces in the northern region and where an international railway service is planned. It lies within a key industrial area, which is likely to be approved by the Government as a special economic zone with many preferential policies, according to the province.

The Indian investors also proposed a policy on payment of land rent and asked the province to hand over the vacant land to them on schedule.

At the meeting, the Hai Duong side is committed to promptly solving the problems. Pham Xuan Thang, Chairman of the provincial People's Council, pledged to support investors at the highest level to implement the pharmaceutical park project.

TAG: Indian enterprises Pharmaceutical Park project Hai Duong
Other news
13:21, 2022/21/10
Economic cooperation - a highlight of Vietnam-Oman relationship
This year marks the celebration of the 30th anniversary of diplomatic relations between Việt Nam and Oman.
19:44, 2022/44/08
JBIC prioritizes partnership with Vietnam
304 JBIC-funded projects in the fields of energy and supply chain development have been effective and have contributed to promoting green growth in Vietnam.
22:22, 2022/22/19
Vietnam and India open new direct flights
The operations of six new air routes will facilitate Vietnamese passengers' travel to places of pilgrimage in India and Indian citizens visiting Vietnam.
18:51, 2022/51/11
More foreign investors land in Vietnam's industrial parks
The reopening of the borders, the government's active support for investors, and the resilience of domestic firms would open up a promising future for the industrial property market in 2022 and subsequent years.
10:49, 2022/49/07
ADB, LDC sign US$100 million loans to support smallholder farmer livelihoods
The loan will support LDC’s operations in India, Indonesia, Pakistan, Thailand, and Vietnam by financing coffee, cotton, and rice inventories for over 50,000 smallholder farmers across these countries.
16:31, 2022/31/04
Vietnam’s selective FDI attraction strategy yields early results
The amount of FDI capital pouring into fields of high environmental risks, obsolete technologies or labor-intensive industries has been on the decline.