This is the Thai Binh Pharmaceutical-Biological Industrial Park, which is also envisioned to be the first large-scale, modern, and integrated pharmaceutical-biological industrial park in Vietnam.
Recently, the People’s Committee of Thai Binh province sent a document to the Ministry of Planning and Investment and several related ministries to seek opinions on the construction planning subdivision project (at a ratio of 1/2,000) of the Pharmaceutical-Biological Industrial Park in Quynh Phu district, Thai Binh province. Specifically, the Thai Binh Pharmaceutical-Biological Industrial Park is planned on the administrative boundaries of communes, including Quynh Trang, Quynh Xa, An Vinh, and Dong Hai of Quynh Phu district.
Quynh Phu district is located at the junction of Thai Binh province with Hung Yen and Hai Duong provinces, and with Hai Duong province and Hai Phong city. The convenient transportation advantages will help Quynh Phu district promote industrial development in the future.
This project is adjacent to Provincial Road 468 and Quynh Xa canal in the north; adjacent to Provincial Road 396D and the current residential area of Dong Hai commune in the south; adjacent to National Highway 10 in the east; and adjacent to Provincial Road 396DB and the current residential area of Quynh Xa commune in the west.
The total area of the planning study area is 334.19 hectares. Of this, the area for industrial park planning is 292.48 hectares, including 183 hectares for factories and warehouses; 24.18 hectares for administration and public areas; 33.97 hectares for green trees; and 3.64 hectares for other technical infrastructure works…
The Thai Binh Pharmaceutical-Biological Industrial Park is expected to attract investments of up to $2 billion. In the first phase, from 2024 to 2027, the industrial park will attract $800 million, and in the second phase, from 2028 to 2030, it will attract $1.2 billion. It is expected that once operational, the Thai Binh Pharmaceutical-Biological Industrial Park will directly employ approximately 18,000 workers.
Thai Binh Pharmaceutical-Biological Industrial Park project illustration. Image: Investor
According to the plan, the total investment for the infrastructure of the Thai Binh Pharmaceutical-Biological Industrial Park project is expected to be about VND 3,800 billion, and when it goes into operation, it will attract 80-90 enterprises to meet domestic and export demands.
This multi-billion-dollar industrial park includes research and development institutes, biotechnology parks, bonded warehouses and GSP-standard warehouses for the pharmaceutical industry, logistics centers, commercial and product introduction centers for medical and pharmaceutical products, education and training areas, and incubators for startups in the pharmaceutical-biological industry, and housing areas for experts and technicians.
Pharmaceuticals and biotechnology are potential fields that are being pursued and invested in by many countries around the world. Therefore, the Thai Binh Pharmaceutical-Biological Industrial Park project promises to bring great benefits to the healthcare sector, the economy, and the people of Vietnam.
According to the People’s Committee of Thai Binh province, the Pharmaceutical-Biological Industrial Park is a specialized industrial park project, specializing in the production and supply of services for the production of pharmaceutical-biological products. With a synchronous and complete technical infrastructure and service system using advanced technology and environmental protection, the project is expected to contribute to the overall development of Vietnam’s healthcare sector.
Who are the two major investors in the multi-billion-dollar industrial park?
People’s Committee of Thai Binh province and investors sign a memorandum of understanding for the construction of Thai Binh Pharmaceutical-Biological Industrial Park infrastructure. Image: MT
The investment consortium for the Thai Binh Pharmaceutical-Biological Industrial Park project includes Makara Capital Partners Fund, Sakae Corporate Advisory (Singapore), and Joint Stock Company Newtechco Group. Joint Stock Company Newtechco Group is the only Vietnamese enterprise in this consortium.
Newtechco specializes in financial, real estate, and restructuring investments and has expanded its investments in the pharmaceutical and biological industries in Vietnam. It is known that during its 10 years of formation and development, Newtechco has always focused on investing in the pharmaceutical and biological industries, cooperating with and investing in enterprises in the Vietnamese pharmaceutical industry, and at the same time becoming a bridge for more than 35 pharmaceutical enterprises worldwide to enter Vietnam.
Since 2017, Joint Stock Company Newtechco Group has started investing in the Pharmaceutical-Biological Industrial Park and is currently cooperating with large enterprises and investors to implement the project. According to Newtechco’s representative, as of August 2024, more than 20 pharmaceutical enterprises from the US, South Korea, Switzerland, Germany, India, etc., intend to invest in building factories in the concentrated pharmaceutical industrial park in Thai Binh.
Speaking to the media, Ms. Vo Thi Tuan Anh, Chairman of Newtechco, said that the Thai Binh Pharmaceutical-Biological Industrial Park would be the first large-scale, modern, and integrated pharmaceutical-biological industrial park in Vietnam. Currently, the procedures for implementing this project are being urgently implemented and ensuring compliance with regulations. It is expected that in 2025, the project can be started and investment promotion can be carried out.
Model of Thai Binh Pharmaceutical-Biological Industrial Park displayed at a seminar on the pharmaceutical industry. Image: TH
According to experts, the Thai Binh Pharmaceutical-Biological Industrial Park will not only attract foreign pharmaceutical and medical equipment companies to produce in Vietnam but also provide opportunities for technology transfer and research and invention of biological and pharmaceutical products, thereby aiming for exports with high value.
In addition, Vietnamese people will benefit from science and technology achievements and access better healthcare services at more affordable costs. Especially, the birth of the Thai Binh Pharmaceutical-Biological Industrial Park is also the solution to a challenging problem of Vietnam’s pharmaceutical industry on the path of development and global integration.
According to the roadmap, from Q4/2024 to 2027, the project will carry out site clearance and compensation according to specific phases and start constructing infrastructure investment. It is expected that by 2030, the Thai Binh Pharmaceutical-Biological Industrial Park will be filled.
According to Dr. Ta Manh Hung, Deputy Director of the Drug Administration Department, Ministry of Health, the healthcare sector considers pharmaceutical development as a key industry and aims to research and produce innovative drugs, becoming a center for production, processing, and technology transfer of high-tech pharmaceutical products in the ASEAN region and reaching level 4 according to the classification of the World Health Organization.
The Ministry of Health is coordinating with localities and branches to attract foreign investment, build concentrated pharmaceutical industrial parks according to Decision 376/QD-TTg of the Prime Minister on the Program for the Development of the Domestic Pharmaceutical and Medicinal Material Industry until 2030, with a vision to 2045. This includes one industrial park in the North and one in the South or Central region.
