EU Launches EUR2-Million Fund to Aid Vietnam’s Phytopharmaceutical Sector

Tuan Minh

16:37 08/06/2016

BizLIVE - The EU has launched a project to support Vietnamese phytopharmaceutical companies in enhancing their competitiveness.

EU Launches EUR2-Million Fund to Aid Vietnam’s Phytopharmaceutical Sector

Alejandro Montalban, head of Cooperation and Development of the EU Delegation to Vietnam, speaks at the launch of the project in Hanoi on June 8. (Photo: EU Delegation)

The European Union launched a project today (June 8) to help Vietnamese phytopharmaceutical enterprises enhance competitiveness by bringing their products up to international standards.
The EUR2-million project named “Scaling up Ethical BioTrade Initiatives within phytopharmaceutical sector”, operational between 2016 and 2020, is jointly implemented by HELVETAS Vietnam, National Institute of Medicinal Materials and Center for Rural Economy Development, the EU Delegation to Vietnam said in a press release.  
The project is expected to involve 12 phytopharmaceutical enterprises, 5,000 farmers/ households and relevant agencies from the Ministry of Health, and Ministry of Natural Resources and Environment.
It aims to increase income of farmers/ households through support for effective implementation of Ethical BioTrade value chains, consolidation of knowledge and skills in cultivating, harvesting/collecting, and processing of ingredients, all in a manner that respects biodiversity and environmental protection.
“This marks an important milestone in the promotion of a sustainable Ethical BioTrade business model within the natural ingredients sector of Vietnam. We hope to see the goal of making Vietnam an internationally recognized supplier of natural ingredients become visible and noticeable in the future,” said Alejandro Montalban, head of Cooperation and Development of the EU Delegation to Vietnam.
The selected phytopharmaceutical enterprises account for about 80% of medicinal material based products market in Vietnam and are those with commitments to sustainability by ethical sourcing of ingredients and establishing of value chains in compliance with international standards.

TUAN MINH

Từ khóa: EU