2 min read - 16 Jul, 2025
Trade win unlocks £250m for British pharma firms in Vietnam
British pharmaceutical companies are set to gain up to £250m over the next five years as part of a Vietnamese law change that makes it easier to sell UK-made medicines to the country.
With UK government input, Vietnam has changed its laws to streamline the registration of new medicines and vaccines, now recognising approvals from trusted international regulators such as the UK’s Medicines and Healthcare products Regulatory Agency (MHRA).
It opens the door to more commercial opportunities for UK companies, as they can avoid time-consuming paperwork and expensive legal processes if their products have been approved by the MHRA within the last five years, making it cheaper, quicker, and easier to sell products to Vietnam.
A Vietnamese law change will make it easier to sell UK-made medicines to the country / Picture: Getty/iStock
On July 14, a Joint Economic and Trade Committee (JETCO) meeting took place, co-chaired by UK trade minister Douglas Alexander and Vietnam’s vice minister Nguyen Hoang Long. The meeting aimed to deepen trade ties, which have reached more than £8bn, and remove barriers for UK businesses in key sectors such as healthcare, finance and clean energy.
It follows the launch of the UK’s landmark Trade Strategy, which intends to secure more nimble deals while promoting sectors like life sciences, financial services and renewable energy, which drive the most economic growth. The JETCO also reflects the UK’s goal of deepening ties with fast-growing economies in Asia.
Renewable energy featured on the JETCO agenda as both countries pledged to work together to support the development of Vietnam’s renewable energy sector, particularly in offshore wind, with the industry in the UK forecast to support 100,000 jobs by 2030.
Douglas Alexander, trade minister, said: “Vietnam is today a dynamic, fast-growing economy. The removal of pharmaceutical barriers with one of our closest trading partners in Asia is a boost for the UK pharmaceutical industry and proof our Industrial and Trade Strategies are already delivering.”
The UK is committed to strengthening its relationship with Vietnam, which is witnessing rapid economic growth and is fast becoming a major global manufacturing base for electronics, textiles, and renewable energy.
