Capital needs and barriers
Assessing the development potential of the pharmaceutical industry in 2024, Vietnam is assessed by international organizations as one of the "emerging pharmaceutical" markets in the group of countries with relatively low pharmaceutical penetration rates and high market potential. [DTTH1] The explanation for this assessment is the rapid growth rate and aging rate of the population, along with the income level and health care awareness of the people are getting better and better, especially after the Covid-19 pandemic.
The domestic Pharmaceutical & Medical Equipment industry is facing many opportunities and development potential.
Enterprises in the Pharmaceutical & Medical Equipment sector are facing many opportunities to develop and expand the market when many support policies of the Government are implemented. However, obstacles still exist when not all enterprises have enough financial resources to invest in development, especially in the context of increasing competition, many foreign enterprises with advantages in technology and finance have also "penetrated" the Vietnamese market.
Mr. Ngo Thanh Son - General Director of Novamed Vietnam Joint Stock Company said: "Our company specializes in providing equipment and consumables for hospitals such as infusion lines, oxygen, etc., so we always need a large amount of goods to stock in the warehouse. This year, the number of orders is estimated to increase by about 30%, so we always need capital ready for payment."
SME enterprises in the pharmaceutical and medical equipment industry will be provided with competitive interest rate credit packages and support for many other types of fees by ABBANK.
Another pharmaceutical company also said that one of the company's key strategies to improve its competitiveness in the market is to focus on digitalization, increasing the application of technology in operations and sales marketing. This investment requires a large amount of capital in a timely manner.
According to Deputy Minister of Health Do Xuan Tuyen, over 90% of raw materials for domestic pharmaceutical production still have to be imported from abroad[DTTH2]. Not being able to take the initiative in domestic raw materials means that input costs of pharmaceutical manufacturing enterprises are also easily affected by external factors such as fluctuations in foreign exchange rates or risks in supply sources...
“Industry knowledge - Superior solutions”
Understanding the needs of businesses in the Pharmaceutical & Medical Equipment industry, ABBANK has implemented financial solutions based on industry knowledge with flexible support packages, most suitable to the specific needs of businesses in this field.
ABBANK accompanies businesses with specialized financial solutions at the 31st Vietnam International Medical and Pharmaceutical Exhibition (Vietnam Medi-Pharm 2024), held in Hanoi from May 9 to 12, 2024.
Mr. Khuong Duc Tiep - Permanent Deputy General Director of ABBANK said: “Pharmaceuticals & Medical Equipment is one of the key sectors that we invest in understanding and building specific financial solutions. Through that, ABBANK demonstrates its commitment to supporting businesses in all business cycles, from investing in research and development to maintaining production, marketing products and distributing quality products to customers.”
Accordingly, the Bank introduces the program “Understanding the industry - Superior solutions” - a comprehensive financial solution package from providing investment capital for upgrading and expanding production plants to financial support for the import and distribution of products. Specifically, Pharmaceutical and Medical Equipment enterprises will be provided with a solution package by ABBANK to meet a variety of needs and credit purposes (loans, issuing guarantees, L/Cs, credit commitments, etc.) with high funding rates, flexible loan terms and customized loan conditions to meet the specific requirements of each enterprise.
ABBANK accompanies businesses with specialized financial solutions at the 31st Vietnam International Medical and Pharmaceutical Exhibition (Vietnam Medi-Pharm 2024), held in Hanoi from May 9 to 12, 2024.
Regarding pricing policy, businesses are applied a competitive lending interest rate policy from 5%/year; supported up to 50% of international payment fees, domestic guarantee fees/financial arrangement commitments and can participate in other fee incentive programs. Along with that is an attractive foreign exchange rate incentive compared to the listed exchange rate.
Thanks to the quick and timely access to ABBANK's financial solution package, Mr. Ngo Thanh Son, General Director of Novamed Vietnam Joint Stock Company, shared: "VND 30 to 40 billion is the value of the company's monthly inventory to be ready to promptly meet the equipment and supplies for medical facilities. Fortunately, in the recent past, ABBANK has had a good interest rate package, providing timely capital support for our business."
Support and create momentum for businesses
To proactively approach and support Pharmaceutical & Medical Equipment businesses looking for suitable financial solutions, ABBANK is the only bank participating in the 31st Vietnam International Medical and Pharmaceutical Exhibition (Vietnam Medi-Pharm 2024) from May 9-12 in Hanoi.
Thanks to understanding customer needs, ABBANK offers specialized financial solutions suitable for pharmaceutical businesses to solve capital problems.
This is the largest-scale medical and pharmaceutical exhibition ever with 550 booths, gathering about 350 participating units including Vietnamese enterprises and enterprises from 30 countries and territories around the world. As the only bank participating in this year's exhibition, ABBANK has widely introduced specialized financial solutions to many participating pharmaceutical and medical equipment enterprises.
Thanks to understanding customer needs, ABBANK offers specialized financial solutions suitable for pharmaceutical businesses to solve capital problems.
A customer who is also a business participating in this exhibition said: “Thanks to the quick process and dedicated consultation, ABBANK helps us not only meet the need for timely capital, but also quickly resolve the problem of goods and provide equipment to medical facilities effectively.”
ABBANK always focuses on developing effective and flexible financial products, services and solutions, suitable for each customer group.
ABBANK commits to providing maximum support for all loan procedures to create the most favorable conditions for Pharmaceutical & Medical Equipment enterprises to access the Bank's capital. Interested enterprises can call the Hotline 18001159 or register for consultation here/ on the bank's website at https://www.abbank.vn/ [DTTH1] Vietnam's pharmaceutical industry: Opportunities and challenges in 2024 (pharmarketing.vn) [DTTH2] More than 90% of raw materials for domestic drug production must be imported | Dan Tri Newspaper (dantri.com.vn)
Source: https://www.congluan.vn/co-hoi-tiep-can-giai-phap-tai-chinh-chuyen-biet-cho-doanh-nghiep-duoc-pham-thiet-bi-y-te-post296713.html
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