HM&P's Lawyers Engage And Exchanged Insights With Indonesian Companies At The 21st International Medical, Hospital & Pharmaceutical Exhibition

(Sources: https://www.facebook.com/VietnamMedipharmExpo/)

On August 3, the 21st International Medical, Hospital & Pharmaceutical Exhibition (Medi-Pharm Expo) was held at the Saigon Exhibition and Convention Center in District 7, Ho Chi Minh City. The exhibition ran from August 3 to 5 and attracted the participation of 400 companies from 22 countries, including 10 pharmaceutical and medical equipment companies from Indonesia.

This exhibition primarily showcased products in five main sectors: (1) pharmaceuticals, functional foods, processing, and packaging machinery; (2) medical machinery and equipment, analytical equipment, testing, chemicals, and more; (3) hospital services and interior furnishings, medical tourism; (4) dental and optical equipment; and (5) cosmetics, aesthetics, and beauty equipment. These sectors aimed to introduce consumers to the most advanced products and services of global conglomerates to consumers.

Mr. Nguyen Van Phuc - Managing Partner of HM&P Law Firm

Upon the invitation of the Embassy of the Republic of Indonesia, Mr. Nguyen Van Phuc, Managing Partner of HM&P Law Firm ("HM&P"), participated in the exhibition and attended the seminars "Policy Update on Management of Medical Devices And Pharmaceuticals" and "Mapping Trade Opportunities For Indonesia – Vietnam On Health Products". These seminars were two of the four seminars organized by the Vietnamese Ministry of Health, the association, and companies to promote specialized pharmaceutical trade.

The conferences "Policy Update On Management Of Medical Devices And Pharmaceuticals" and "Mapping Trade Opportunities For Indonesia – Vietnam On Health Products"  was attended by Mr. Agustaviano Sofjan, Consul General of the Republic of Indonesia in Ho Chi Minh City, Mr. Vu Tuan Cuong, Director General of the Drug Administration of the Ministry of Health of Vietnam, and representatives from healthcare agencies, associations, and pharmaceutical companies from both Vietnam and Indonesia. The seminars provided updates on Vietnam's pharmaceutical regulatory policies, Indonesia's policies to promote the growth of the pharmaceutical and medical device industries, and an assessment of the potential for cooperation between Indonesia and Vietnam in the pharmaceutical and medical device sectors.

Representatives of state agencies of Vietnam and Indonesia at the seminar (Sources: https://www.facebook.com/VietnamMedipharmExpo/)

At the seminars, HM&P's representative had the opportunity to meet with various pharmaceutical and cosmetic companies and exchange information on changes and updates in pharmaceutical market policies and management in Vietnam. It was at this seminar that Mr. Phuc posed a question to the Indonesian companies: "What is the main obstacle for Indonesian pharmaceutical companies to invest in Vietnam?" In response, a representative of an Indonesian pharmaceutical company pointed out that there are several rather complex barriers in Vietnam for Indonesian companies to enter the pharmaceutical market. However, the most important barrier remains "the current legal regulations governing the pharmaceutical industry in Vietnam". Mr. Phuc expressed his understanding of the challenges faced by Indonesian companies in entering the Vietnamese market and promised to guide and support Indonesian pharmaceutical companies in investing in Vietnam in the future.

Mr. Vu Tuan Cuong, Director General of the Drug Administration of the Ministry of Health of Vietnam was speaking at the seminar

Mr. Nguyen Van Phuc and Mr. Agustaviano Sofjan - Consul General of the Republic of Indonesia in HCMC

At present, the pharmaceutical and medical equipment sector is considered as one of the strategic industries with rapid growth. HM&P hopes that, with the promotion and opportunities created by relevant Vietnamese authorities and the support of the Embassy and Consulate General of Indonesia in Vietnam, HM&P will be an important bridge for investors from Indonesia and other countries to trust and utilize consulting services when investing in Vietnam's pharmaceutical market in the coming period.