Companies / Vietnam
Drug Sector Braced For WTO Accession
November 2006 | Industry NewsVietnam's regulators have begun taking action to prepare the country's drug sector for the seismic changes that will be caused by entry to the World Trade Organisation (WTO). Foreign enterprises will be given the right to open branches in Vietnam, and will be able to directly import medicines, although still barred from distributing their products. As part of its membership application, Vietnam has also pledged to set import duties at under 5% for pharmaceutical products, and drug tariffs are expected to average just 2.5% within five years of accession.
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