Vietnam Colors

The European Court of Justice in Luxembourg ruled on Thursday that the authorization of genetically modified soy produced by former agrochemical corporation Monsanto was legal. An appeal is not possible. The ruling follows appeals made by three German non-governmental organizations to a decision made by the EU Commission in 2012. The Commission said the genetically modified soybean has the same effect on human and animal health as non-genetically modified soy products. This allowed Monsanto to continue selling products containing genetically modified soybeans. The beans were modified to make them more resistant to insects and pests and also more resistant to the herbicide glyphosate. 'Toxicological risks' The NGOs challenged the Commission's decision saying that not enough research had been carried out into potentially unknown side-effects of the GMO soybeans. The NGOs, TestBioTech, European Network of Scientists for Social and Environmental Responsibility and … [Read more...] about German groups lose GMO soybean battle to Monsanto at top European court

In Document No.19942/QLD-CL dated November 27, 2019, the DAV asked Saigon Pharmaceutical Company (Sapharco) – the importer of the medicine – to work with suppliers and distributors to send a notice of withdrawal to wholesalers and retailers within 48 hours since the document was signed. Sapharco will then have to submit a report on the retrieval of Young II Captopril tablets to the DAV in 18 days since the signing date of the document. Established in 1975, Sapharco has always ranked among the companies which have the biggest annual turnover in the Vietnamese pharmaceutical industry (consistently above VND1 trillion [$43.48 million]), making up 10 per cent of the nationwide pharmaceutical market. The firm’s scope of activities includes the trading and distribution of pharmaceuticals, cosmetics, and raw materials for manufacturing western formulations and herbal medicines. The company has built up a distribution network that covers the whole nation, reaching all … [Read more...] about Sapharco asked to revoke Korean-imported Young II Captopril tablet

Experts discussing on how to develop an ecosystem for e-commerce development At TechFest held yesterday (December 4) in Quang Ninh province’s Halong city, James Dong, CEO of Lazada Vietnam and Lazada Thailand, confirmed that the digital economy is booming in Southeast Asia, and is forecast to continue growing – and Vietnam is a rising star even in this group. Google Temasek predicted that the size of the regional e-commerce market by 2025 would reach $153 billion from $39 billion in 2019, while that of online travel would be $79 billion, online media $33 billion, and ride-hailing $41 billion. Of this, Vietnam is emerging as a potential market with CAGR of 49 per cent in its e-commerce market. As Southeast Asia’s leading and fastest-growing e-commerce platform, Lazada is building out an e-commerce infrastructure ecosystem to host the future of commerce. The platform has already built an international-standard logistics system in Vietnam to serve both buyers and … [Read more...] about Building an ecosystem for e-commerce development

Criteria for professionalisation Tran Minh Ai Director of Property Management, Savills Ho Chi Minh City Property management is essentially the process of operation, control, and oversight of real estate as used in its most broad terms. This is much akin to the role of management in any business. Besides involving daily management, including security, sanitary tasks, landscaping, and maintenance as well as physical capital assets that are acquired, property management is responsible for accountability, financial planning, and risk administration harmonised with investors and the administrative board’s demands. After several years of familiarising themselves with the concept of property management, developers now command a solid grasp of the true benefits of property management provided by well-known brand names and reputable international corporations with ample localised experience. Not only ensuring safety and satisfaction for residents, property management services … [Read more...] about Residential market discovers true value of professional management

Nearly 150 shareholders attended Danapha’s Annual General Meeting in 2019 Accordingly, the biggest pharmaceutical company in Danang city was fined VND70 million ($3,050) for failing to submit reports on schedule. Danapha was also fined VND350 million ($15,200) for not registering transactions and listing securities; and VND85 million ($3,695) for violating the regulations on corporate governance and others. Established in 1965, Danapha has a long and proud history of sustainable development. It has a steady position in the Vietnamese pharmaceutical market and is now ready for international opportunities. Danapha is now recognised as a high technology pharmaceutical company in Vietnam. Danapha targets a revenue of VND550 billion ($23.91 million) in 2019. Suggested solutions for this mission are enhancing the so-called ethical drugs channel (ETC), adjusting policies and producing suitable products to develop the over-the-counter channel (OTC) and non-description drugs; modernise … [Read more...] about Leading pharma firm fined for securities-related violations