National Assembly Chairman Vuong Dinh Hue offered suggestions for amending the Pharmaceutical Law: Incentives for businesses producing high-tech products.

According to National Assembly Chairman Vuong Dinh Hue, preferential policies are needed for businesses producing high-tech products through a roadmap for reducing drug prices, increasing the percentage of research and development funds allocated, etc.

National Assembly Chairman Vuong Dinh Hue offers suggestions for amending the Law on Pharmaceuticals.

Contributing to the discussion on amending the Law on Pharmaceuticals at the 32nd session of the National Assembly Standing Committee on the afternoon of April 16, National Assembly Chairman Vuong Dinh Hue remarked that the draft law had been meticulously prepared and represented a significant step forward in terms of thinking regarding law amendments.

Regarding specific amendments, the Chairman of the National Assembly noted that currently, most common medicines are domestically produced in Vietnam, but about 90% of the raw materials for medicines must be imported, and most specialized and essential medicines still have to be imported. According to Chairman Vuong Dinh Hue, the development of the pharmaceutical industry is both an economic matter and related to the care and protection of people's health, and therefore needs to be given utmost attention and promoted through appropriate policies.

QC CHIỀU 16.jpeg — A view of the National Assembly Standing Committee's meeting on the afternoon of April 16.

"It is necessary to review Prime Minister's Decision No. 376/2021 on the program for the development of the pharmaceutical and medicinal plant industry until 2030, with a vision to 2045, in order to codify some policies to encourage the strong development of this industry. In particular, there should be preferential policies for enterprises producing high-tech products through regulations on a roadmap for reducing drug prices and increasing the percentage of research and development funds allocated to enterprises researching and developing new drugs," the National Assembly Chairman stated.

Promoting domestic and foreign joint ventures and cooperation, especially in technology transfer activities in Vietnam, is also a key focus. Vietnam's distribution policies are still limited, so linking domestic and foreign businesses together in production, distribution, and circulation would be much more effective.

CHIỀU 16.jpeg — Delegates attending the afternoon session on April 16th.

Furthermore, according to the Speaker of the National Assembly, there is a need for preferential import tax policies for imported raw materials used in pharmaceuticals. “With some raw materials that must be imported but have high import costs, the cost of medicine will be expensive, forcing people to buy expensive medicine. Perhaps we should study policies to supplement import tax incentives for imported raw materials used in pharmaceutical packaging, excipients, capsule shells, etc. Those that cannot be produced domestically should have preferential tax rates to reduce costs,” the Speaker suggested.

Comrade Vuong Dinh Hue also suggested that there should be specific policies to provide more preferential treatment for drugs used to treat rare diseases, as well as for scientific research and testing of rare drugs. Although large companies and corporations will have research centers, there should be a national-level pharmaceutical research and development center led by the Ministry of Health.

ANH PHUONG

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