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Vietnam courts EU investment in medical and drug supply chains

Vingroup's ventilator parts deal with Medtronic seeks third pillar of manufacturing

An employee displays a ventilator at a VinSmart factory near Hanoi. Medtronic will buy components made by VinSmart for ventilators to be sold in the U.S. and Ireland.   © Reuters

HANOI -- Vietnam seeks to build on its new free trade agreement with the European Union to expand foreign investment in medical equipment and pharmaceuticals, with the government position the country as an alternative production base to China.

Vingroup, the country's largest conglomerate, on Wednesday announced a partnership with Ireland-based medical device company Medtronic to produce components in Vietnam.

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