(Photo: VGP)

By 2030 the sector hopes to meet 20% of the domestic demand for raw materials for drug production and 50% of the demand for raw materials for the production of dietary supplements and cosmeceuticals.

The export of certain natural chemical-pharmaceutical products, including active ingredients, standardised extracts, and essential oils rich in active substances, will grow 10% per year.

By 2045, Vietnam's chemical-pharmaceutical industry is expected to become a high-tech, competitive, modern industry participating in the global value chain.

To achieve that goal, the program outlines solutions including institutional improvements and incentives to support and attract investment, particularly in R&D, technology transfer, and human resources development.