Vingroup, Vietnam’s leading private conglomerate, is building a plant to produce Covid-19 vaccines under the technology transfer by the US-based Arcturus Therapeutics Holdings Inc.

The technology transfer of vaccine production aims to meet the domestic demand in Vietnam. Photo: Phap luat Xa hoi

The plant run by Vingroup’s Vinbiocare Biotechnology JSC is expected to churn out the first batch of mRNA vaccines in August for clinical trials.

Located in Hoa Lac Hi-Tech Park in Thach That District, Hanoi, the plant is designed to have a capacity of 100-200 million doses per year. it is one of few construction projects allowed to proceed in Hanoi’s 15-day partial lockdown.

Vinbiocare was established in early June 2021 with an investment portfolio mainly in pharmaceuticals. It was set up at a time when Vietnam facing a thin vaccine supply amid widespread pandemic transmission.

Vingroup entered the pharmaceutical industry in 2018 by establishing Vinfa JSC and setting up a plant in the northern province of Bac Ninh.

According to Vingroup’s Chairman Pham Nhat Vuong, Vinbiocare’s investment portfolio covers a wide range with a focus on biotechnological products.

Vuong said vaccine production is a non-profit business that aims to meet domestic demand, noting that Vingroup is willing to take risks in investing in vaccine production for long-term profits because of the global scarcity.

Vingroup has also funded VND20 billion (US$869,000) for the Health Ministry-run Institute of Vaccines and Medical Biologicals (IVAC) to develop Covid-19 vaccine candidates.

The group has also made ventilators under the support of the US-based Medtronic for domestic consumption and export. It has donated more than 3,200 VSmart VFS-410 and VFS-510 ventilators for the Ministry of Health.