VT Greater Pharma Co., Ltd. to build herbal products factory
VT Greater Pharma Co., Ltd. to build herbal products factory
VT Greater Pharma Co., Ltd. is set to build a herbal products factory at the Vientiane Industry and Trade Area (VITA Park) in Xaythany district, aiming to be ready for commercial production in 2017.
The health and cosmetics products are intended for distribution in both Laos and other countries.
An agreement on the Building and Factory Construction of Herbal Food Supplements and Cosmetics (under GMP St andards) between VT Greater Pharma Co., Ltd. and All In One Development Engineering Co., Ltd. was signed recently at VITA Park.
The agreement was signed by the Managing Director of VT Greater Pharma Co., Ltd. Mr Chernporn Tengamnuay and the Managing Director of Viengthong P harma Co., Ltd. Mr Thongpheuane Khantivong.
VT Greater Pharma Co., Ltd. is a joint venture between Thailand's Greater Pharma Co., Ltd. and Laos' Viengthong Pharma Co., Ltd.
VT Greater Pharma Co., Ltd. has a strong policy to promote Lao farmers to grow medicinal plants to be used as the raw materials for the herbal products.
Some investment has been provided by the Netherlands Enterprise Agency, an agency under the Netherlands' Ministry for Foreign Trade and Development Cooperation.
Vice President of VITA Park Mr Thongkhanh Vongphrachanh said construction of the factory, financed by VT G reater Pharma Co., Ltd., will begin in the near future.
“Currently they are levelling the land on a one hectare site at VITA Park before building the complex,” he said, adding that it should be complete in not more than one year.
Mr Thongkhanh said VITA Park now has 42 companies working there on an area covering at least 80 percent of the park.
Nine companies have built factories and are making products for export and about 11 companies are in the process of building facilities while the remainder are preparing for factory construction.
It is expected that this fiscal year, all business operations will be ready to go into production. More than 1,200 people are currently employed at the park, according to Mr Thongkhanh.
