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Vingroup to build vaccine factory with annual capacity of 100-200 million doses

Vingroup expects to begin produce vaccine productions in 2022. Photo Bloomberg

Vietnamese conglomerate Vingroup will develop a vaccine factory with an annual capacity of 100-200 million doses in Hoa Lac Hi-Tech Park in Hanoi. This is one of five urgent key projects that are allowed to operate during the social distancing period.

Hanoi People’s Committee has just approved a list of urgent key projects to be operated during the social distancing period. These include the vaccine factory project in Hoa Lac Hi-Tech Park in Hanoi led by Vingroup’s Vinsmart Research and Production JSC.

Vingroup is currently in negotiation with the US’ Arcturus for COVID-19 vaccine technology transfer with expectations of beginning clinical trials in Vietnam in August. After completing the trial, production will be deployed at the factory in Hoa Lac Hi-Tech Park. The finished products will be launched on the market in 2022.

The plant will produce has a capacity of 100-200 million doses of vaccines per year. Vaccines are produced by using the same mRNA technology as the vaccines of Pfizer and Moderna.

In June 2021, Vingroup has joined forces with Viet A Corp to establish Vinbiocare Biotechnology JSC (Vinbiocare) with a charter capital of VND200 billion($8.7 million). Vingroup is the largest shareholder of Vinbiocare, contributing VND138 billion ($6 million) to own 69 per cent.

Vinbiocare focuses on manufacturing drugs, pharmaceutical chemicals, and medicinal herbs including vaccine production, scientific research, and technology development.