VIENTIANE (Vientiane Times/ANN) - A Lao-Chinese joint venture company is planning to establish a pharmaceutical industrial park in Vientiane.

Various kinds of medicinal products are expected to be manufactured to supply future demand and reduce imports.

Chairman of the Golden Wisdom Hong Kong Company, Mr Zhang Chongdi, spoke at the official cornerstone laying ceremony of the construction of the Golden Wisdom Pharmaceutical Co., Ltd. (Laos) last Friday at the Xaysettha Development Zone in Vientiane.

He said the Golden Wisdom Hong Kong Company had cooperated with the IHC Laos company group to build the Golden Wisdom Pharmaceutical Industrial Park.

The investors plan to invest US$100 million to build the complex on about 100,000 square metres of land.

The first phase will see the construction of an R&D building, 2 dormitories, 1 canteen and recreational centre, and 9 GMP-standard medicinal product manufacturing plants. The company expects to spend US$50 million on this phase, with construction taking place on 46,000 square metres of land.

Mr Zhang Chongdi said the Golden Wisdom Hong Kong Company manages and operates its own businesses and holds shares in many medical companies in China. The firm produces many kinds of medicines such as tablets, capsules, freeze-dried and Chinese traditional medicine (CTM). It also has a strong R&D team that is capable of developing new drugs. 

He said the Golden Wisdom Hong Kong Company actively participates in the Belt and Road Initiative proposed by Chinese President Xi Jinping, using the potential and funding of the company to construct and develop along the Belt and Road Initiative in Laos.

Since the company teams arrived in Laos, they have been warmly welcomed by related sectors of the Lao government, Mr Zhang Chongdi said. He thanked all the authorities who had supported the company.

He committed to pay attention to environmental protection and said that during construction they would follow international standards and strictly respect Laos’ regulations and laws. 

The ceremony was attended by the Mayor of Vientiane, Dr Sinlavong Khoutphaythoune, Health Minister, Associate Prof. Dr Bounkong Sihavong, Deputy Chief of Mission of the Chinese Embassy (Political Counselor) Mr Zhao Chenggang, Lao officials and representatives of investment companies and guests.

Associate Prof. Dr Bounkong Sihavong said construction of the Golden Wisdom pharmaceutical factories was very significant for the health sector and reflected the expansion of the pharmaceutical and medical industries in Laos as part of the reform plan of the health sector.

During construction of the modern drug plant, the ministry has formed a project management committee. The Lao team will provide facilities to ensure the project fulfils the plan. Construction is expected to start in 2020.

At the ceremony, Assoc. Prof. Dr Bounkong said drugs and medical assistance was provided by the company through the ministry to help people affected by natural disasters in central and southern areas of Laos. The total value of this assistance was 300 million kip.

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