The Medochemie Far East company under the Cypriot Medochemie Group has broken ground on a new pharmaceutical plant at the Vietnam-Singapore Industrial Park II A (VSIP) in Tan Uyen Town in the southern province of Binh Duong on March 17.

The 44,700 square-metre plant at a total cost of 16.1 million USD is scheduled to be completed by the end of this year. Once operations commence at the outset of 2016, its outputs will be used for domestic consumption and exports.

Earlier, Medochemie invested 14 million USD to construct a plant across 18,400 square metres in VSIP II.

Binh Duong province is currently home to 25 pharmaceutical plants certified by the “Good Manufacturing Practices” (GMP), accounting for 22.1 percent of the country’s pharmaceutical production.

Tran Thanh Liem, Vice Chairman of the provincial People’s Committee, said that the local authorities are willing to provide support and address any difficulties in a timely manner to create favourable conditions for investors in the locality to implement the project effectively.-VNA