State’s Role in Vietnam’s Pharmaceutical Industry: An Approach to Sustainable Development for Human Health Security

Abstract

Health security is one of the key aspects of human security. According to the United Nations, health is among the core components of human security. Playing a critical role in healthcare, improving the domestic pharmaceutical industry has been the Vietnam government’s current priority. Over the past few years, Vietnam has made progress in upgrading the quality of the health sector and enhancing the supply of drugs in the domestic market. Nevertheless, the healthcare system has relied on imported medicines which contribute 60% of the total market value. Furthermore, the total value of pharmaceutical exports in 2019 was quite modest at US$186 million, only 6% of the value of pharmaceuticals imported into Vietnam. However, the objectives related to the development of the pharmaceutical industry are not strategic, particularly about international cooperation. This study aims to analyze and re-identify important issues related to the Vietnamese pharmaceutical industry development strategy and propose specific recommendations for the country’s pharmaceutical industry to be competitive in the global market. Overall, the government should have a clearer vision and policymakers should pay attention to the state’s leading role in setting strategic policies for the pharmaceutical industry to achieve sustainable growth, thereby enhancing public health security, which is a critical concern of human security during the COVID-19 pandemic.