Frontier and emerging markets (Vietnam)

Dylan Waller

Nomadic Equity

Thematic (Sector/Industry)

This insight focuses on investment implications after examining Vietnam's major economic challenges, with a primary focus on Vietnam's over-dependency on China, and the various industries this poses a threat towards. The TPP will serve as a catalyst to reconcile this in the future, yet select, strong domestic companies and foreign multinational corporations are currently in an advantageous state.

This insight focuses on investment implications after examining Vietnam's major economic challenges, with a primary focus on Vietnam's over-dependency on China, and the various industries this poses a threat towards. The TPP will serve as a catalyst to reconcile this in the future, yet select, strong domestic companies and foreign multinational corporations are currently in an advantageous state.

Strategically Avoiding Vietnam's Thorns: Investment Implications

In September 2015, Vietnam removed the foreign ownership limitation, allowing companies to open up to 100% foreign ownership, yet the actually implementation has been frustratingly slow.  <a href="https://www.smartkarma.com/entities/5050" target="_blank" data-smartkarma-citation="entities:5050">Saigon Securities Inc</a> became the first company to open up to 100% foreign ownership, and the company currently has 52.3% foreign ownership.  Approximately 30 companies in Vietnam are fully held by foreign investors, and it is certainly reasonable to assume that these companies are strong investment picks in…

 In September 2015, Vietnam removed the foreign ownership limitation, allowing companies to open up to 100% foreign ownership, yet the actually implementation has been frustratingly slow.  Saigon Securities Inc became the first company to open up to 100% foreign ownership, and the company currently has 52.3% foreign ownership.  Approximately 30 companies in Vietnam are fully held by foreign investors, and it is certainly reasonable to assume that these companies are strong investment picks in…

Some More Thoughts on Vietnam's FOL Removal

My previous insight on Vietnam's pharmaceutical industry mentioned how three of the top four pharmaceutical companies in Vietnam currently have full foreign ownership, and how Vietnam's State Capital Investment Corporation plans to keep its stake in the majority of these companies.  <a href="https://www.smartkarma.com/entities/21050" target="_blank" data-smartkarma-citation="entities:21050">Traphaco Jsc</a>  is currently the strongest pick, as it is the only one of four top pharmaceutical companies with foreign shares available. An investigation of Vietnam's smaller pharmaceutical companies displays how…

My previous insight on Vietnam's pharmaceutical industry mentioned how three of the top four pharmaceutical companies in Vietnam currently have full foreign ownership, and how Vietnam's State Capital Investment Corporation plans to keep its stake in the majority of these companies.  Traphaco Jsc  is currently the strongest pick, as it is the only one of four top pharmaceutical companies with foreign shares available. An investigation of Vietnam's smaller pharmaceutical companies displays how…

Vietnam's Pharmaceutical Industry: Examining Other Options

Equity Bottom-Up

Traphaco is currently the best option for listed equity in Vietnam's pharmaceutical industry:<ul><li>It is the only one of the top four companies that is not currently fully held by foreign investors</li><li>The company is Vietnam's leading traditional medicine manufacturer, and does not rely heavily on imported materials for production, unlike other companies in this industry</li><li>The pharmaceutical industry is projected to achieve double digit growth throughout 2023</li><li>Vietnam's healthcare industry significantly lags behind its emerging peers in Asia</li></ul>

Traphaco is currently the best option for listed equity in Vietnam's pharmaceutical industry:It is the only one of the top four companies that is not currently fully held by foreign investorsThe company is Vietnam's leading traditional medicine manufacturer, and does not rely heavily on imported materials for production, unlike other companies in this industryThe pharmaceutical industry is projected to achieve double digit growth throughout 2023Vietnam's healthcare industry significantly lags behind its emerging peers in Asia

Vietnam officially removed the foreign ownership limitation this September, allowing foreign investors to take 100% ownership of companies.  This legislation is one of the last steps for Vietnam to successfully transition to an emerging market, yet its unclear implementation currently results in Vietnam still being a frontier market.  While the legislation has been passed, foreign investors can expect actual implementation to be an unclear, length process, determined on a case to case basis…

Vietnam officially removed the foreign ownership limitation this September, allowing foreign investors to take 100% ownership of companies.  This legislation is one of the last steps for Vietnam to successfully transition to an emerging market, yet its unclear implementation currently results in Vietnam still being a frontier market.  While the legislation has been passed, foreign investors can expect actual implementation to be an unclear, length process, determined on a case to case basis…

Vietnam's Removal of the Foreign Ownership Limitation: A Future Portfolio for Emerging Vietnam

Vietnam

Hatay Pharmaceutical JSC produces and trades in pharmaceutical products.

Traphaco JSC is a pharmaceutical manufacturing company. The Company primarily manufactures, trades, imports and exports pharmaceuticals products, cosmetics, materials, medical equipment, medicinal foods and wine, among others. Traphaco also trades, plants and processes medicinal herbs, as well as offers technology consultation services in the medicinal and pharmaceutical sector.

Domesco Medical Import Export JSC produces, trades, imports and exports medicine, material additive, pharmaceutical products, processed food, and purified  water.

Domesco Medical Import Export Jsc (DMC VN)

Cuu Long Pharmaceutical Joint-Stock Corporation manufactures and sells pharmaceutical products primarily in Vietnam. It provides cardiovascular, blood pressure, coronary, liver, bile, kidney, and anti-inflammatory corticosteroid pharmaceutical products, as well as antibiotics, vitamins, and steroids. The company also offers drugs for the treatment of analgesic, intestinal infection, antifungal, peptic ulcer, nervous and respiratory system, erectile dysfunction, and resistance diseases, as well as for diabetes; and other drugs. In addition, it provides medical instruments; and empty hard capsules. The company is headquartered in Vinh Long, Vietnam.

OPC Pharmaceutical JSC  manufactures and trades in herbal medicines.

Pharmedic Pharmaceutical Medicinal JSC manufactures medicines.

Ben Tre Pharmaceutical JSC manufactures a wide range of pharmacueticals.

Phong Phu Pharmaceutical JSC is a pharmaceutical company. The Company manufactures medical drugs, tea products, dairy products and trades cosmetics and provides healthcare services.

DHG Pharmaceutical JSC is a pharmaceutical company. The Company manufactures and trades a wide range of pharmaceutical products and herbal teas.

Mayne Pharma Group Ltd. develops and manufactures oral pharmaceuticals.  The Company produces branded generics, specialty generics, and active pharmaceutical ingredients.

Hainan Shuangcheng Pharmaceuticals Company Limited develops, manufactures and sells chemical synthesized peptide drugs. The Company's main products include thymalfasin, somatostatin, and thymopentin for injection.

Hainan Shuangcheng Phrmcutcls (002693 CH)

Jilin Jian Yisheng Pharmaceutical Company Limited develops, produces and sells Chinese patent medicines.  The Company's main products include Zhenyuan capsules, Xin Yue capsules, Qingkailing injection fluids and Guifudihuang capsules.

Jilin Jian Yisheng Pharmaceutical (002566 CH)

TTK Healthcare Limited is a diversified healthcare company.  The Company manufactures a variety of over-the-counter healthcare products, including condoms, hair creams, cosmetics, herbal tonics, anti-cold and allergy syrups, and shoe care products.  The Group also produces heart valve devices, surgical products and devices, as well as prints maps and packaging materials.

Humedix Co., Ltd. produces pharmaceutical products for arthritis and other generic drugs.  The Company also manufactures injectable fillers and cosmetic products.

Korea United Pharm., Inc. manufactures pharmaceuticals, health and beauty care products, home care goods, and special nutrition and ginseng products.  The Company's products include antibiotics, vitamins and nutritional agents, and medicine for cancers.

Daito Pharmaceutical Co Ltd. is a pharmaceutical company. The Company manufactures generic formulations as well as supplies APIs for generic products to generic marketers. Daito serves a broad range of clients including generic medicine suppliers, ethical prescription pharmaceutical companies, healthcare products companies and home delivery medicines groups.

Il Dong Pharmaceutical Co., Ltd. develops and manufactures pharmaceuticals. The Company produces over-the-counter drugs such as vitamins, antibiotics, and other related products. The Company also produces air fresheners, detergents, and water antiseptic solutions.

Ildong Pharmaceutical Co, Ltd. (249420 KS)

Kimia Farma (Persero) Tbk manufactures, distributes, and sells pharmaceutical, chemical, biological, and other materials for use of manufacturing of contraceptives, cosmetics, medical equipment, medicines, and food and beverages. The Company also produces packing material, machinery, equipment, and supporting facilities related to pharmaceuticals as well as operates pharmacies.

Beijing Beilu Pharmaceutical Co., Ltd manufactures and distributes medicines. The Company's products include contrast-medium and, hypoglycemic agents.

Imexpharm Pharmaceutical JSC is a pharmaceutical Company. The Company manufactures pharmaceutical products, traditional medicines as well as trades drugs, raw materials for medicine production, and medical equipment. Imexpharm also offers rental services of warehouse for medicine storage and produces and trades nutritious foods.

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Imexpharm Pharmaceutical Jsc (IMP VN)

Strategically Avoiding Vietnam's Thorns: Investment Implications

This insight focuses on investment implications after examining Vietnam's major economic challenges, with a primary focus on Vietnam's...

Nomadic Equity

Some More Thoughts on Vietnam's FOL Removal

In September 2015, Vietnam removed the foreign ownership limitation, allowing companies to open up to 100% foreign ownership, yet the actually...

Nomadic Equity

Vietnam's Pharmaceutical Industry: Examining Other Options

My previous insight on Vietnam's pharmaceutical industry mentioned how three of the top four pharmaceutical companies in Vietnam currently have...

Nomadic Equity

Vietnam's Pharmaceutical Industry

Traphaco is currently the best option for listed equity in Vietnam's pharmaceutical industry: It is the only one of the top four companies that is...

Nomadic Equity

Vietnam's Removal of the Foreign Ownership Limitation: A Future Portfolio for Emerging Vietnam

Vietnam officially removed the foreign ownership limitation this September, allowing foreign investors to take 100% ownership of companies. This...

Nomadic Equity

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