An illustration of the pharmaceutical–biological industrial park that is going to be built in Thái Bình Province, the first of its kind in Việt Nam. — Photo: vietnamplus.vn

THÁI BÌNH - The People’s Council of Thái Bình Province has approved the zoning plan for a pharmaceutical–biological industrial park that will be built in the province’s Quỳnh Phu District.

With a total cost of VNĐ3.8 trillion (US$149.5 million), the park will be developed on an area of 334 hectares that spans three communes of Trang Bảo Xá, An Vinh and Đông Hải, of which its actual size will be 292 hectares.

The construction is expected to begin next year.

The park will be the first of its kind in Việt Nam, focussing on producing and supplying medicines and medical equipment and products for domestic demand and exports. It is expected to make an important contribution to the overall development of Việt Nam’s healthcare sector.

The park will comprise research and development institutes, a biotechnology zone, warehouses, logistics centres, commercial areas that showcase medical–pharmaceutical products, as well as areas for training and incubation of start-up enterprises in the pharmaceutical–biological industry.

It is expected to provide jobs for 18,000 people when it becomes operational, and attract investments worth $800 million from now until 2027 and $1.2 billion from 2028 to 2030.

Some pharmaceutical companies from the United States, South Korea, Switzerland, Germany, and India have expressed their interest in establishing factories in the park.

The development of the park is part of the national strategy and programme to develop the pharmaceutical industry and domestically produce medicinal materials until 2030, with a vision to 2045.

It is also part of the development plan for Thái Bình Province in the 2021-30 period with a vision to 2050, approved by the Prime Minister.