Vietnam hails the participation of all economic sectors in the production, trade and distribution of medicine, the ministry said in Hanoi on January 13.

The health ministry also highlighted international cooperation as a means to rid the country of fake, low-quality and over-the-counter medication, saying it encourages foreign investment in the production of medicine from local materials and ingredients.

The country has taken steps to ensure an open, fair and transparent business environment for foreign pharmaceutical companies, said Deputy Minister of Health Cao Minh Quang, who also fielded questions and provided information on the local legal framework relating to the pharmaceutical industry.

The discussion gave the participants a chance to ask about clinical trials of new medicines, Vietnam’s WTO commitments and what can be expected in the coming time.

According to the health ministry, price structure changes will be publicized in every phase to help the pharmaceutical industry achieve its economic, medical and social objectives.

In 2008, Vietnam spent more than US$1.4 billion on pharmaceuticals, a 25 percent rise against 2007. Half of the medicine was locally manufactured.