Vingroup launched the VinFa Pharmacy chain in Ha Noi last weekend.

Eleven stores have been opened at VinMart + convenience stores in urban areas or apartment buildings.

In April, Vingroup announced plans to develop the VinFa drug research centre in Gia Binh District, Bac Ninh Province. The project has total investment of VND2.2 trillion (US$94.4 million). In the first phase, the project has developed areas for research, production, logistics and construction to meet international standards on a total area of about 10 hectares.

The centre will focus on research, development and conservation of drugs made by Viet Nam’s medicinal plants and then it plans to export traditional Vietnamese medicine to the global market.

VinFa will also focus on the production of health food, vaccines and medical equipment.

In addition, VinFa will also promote co-operation with prestigious partners from nations with reputed pharmaceutical production industries such as the US, Europe and Australia to source consultancy and technology and technical transfer as well as to import raw materials and products.

The opening of the VinFa chain follows two other major firms entering the pharmaceutical retail market, Mobile World with An Khang Pharmacy and FPT Retail with Long Chau Pharmacy. — VNS