DFC pledges $18 mln investment in health firm to expand Vietnam operations
The U.S. International Development Finance Corporation (DFC) has approved an equity investment of $18 million in BuyMed Pte Ltd. to help the Singapore-registered healthtech firm strengthen its Vietnam operations.
With the funding, BuyMed will expand pharmacies, clinics, and hospitals’ access to pharmaceutical products in rural areas and increase transparency and compliance within the healthcare industry in Vietnam, DFC announced Saturday.
DFC added the financing is among the approved 17 new transactions totaling more than $655 million of investment for businesses in regions worldwide.
Representatives of BuyMed’s B2B platform thuocsi.vn and Durex launch their strategic partnership in Vietnam in June 2022. Photo courtesy of BuyMed.
This February, BuyMed raised $33.5 million in a Series B funding round led by UOB Venture Management, part of Singapore’s United Overseas Bank (UOB).
Launched in 2018, BuyMed operates thuocsi.vn, a business-to-business pharmaceutical distribution platform serving thousands of pharmacies and clinics across Vietnam.
The platform runs two distribution hubs in Ho Chi Minh City and Hanoi, Vietnam’s two largest cities, to supply other parts of the country. It also has a delivery center in Dong Nai province next to HCMC to process orders from southern provinces.
- Related News
- Read More
Malaysia’s manufacturing sector sees positive signs in 2025
Malaysia’s manufacturing sector is forecast to recover well in 2025 as global trade dynamics and geopolitical shifts influence market trends.
Southeast Asia - Wed, January 15, 2025 | 10:06 pm GMT+7
Thailand posts record investment last year
Thailand saw record investment figures for 2024, with applications exceeding THB1.13 trillion ($32.5 billion), the highest in the past decade, according to the country’s Board of Investment (BOI).
Southeast Asia - Wed, January 15, 2025 | 10:05 pm GMT+7
Indonesia considers reducing trade tariffs with US
Indonesia is planning to lower trade tariffs with the U.S. as President-elect Donald Trump prepares to implement a universal tariff policy.
Southeast Asia - Wed, January 15, 2025 | 9:58 pm GMT+7
Malaysia eyes greater sustainability in palm oil sector as EU law looms
The Malaysian government said on Tuesday that it will encourage sustainability while maintaining the competitiveness of its palm oil industry ahead of the implementation of the EU’s anti-deforestation law at the end of this year.
Southeast Asia - Wed, January 15, 2025 | 9:52 pm GMT+7
T&T Group proposes 3,400 hectare urban, logistics, aviation industry complex in central Vietnam
Vietnamese conglomerate T&T Group and Singaporean consultancy firm CPG Corporation have proposed an urban-commerce-service-logistics-aviation industry complex covering 3,400 hectares in the central province of Quang Tri.
Real Estate - Wed, January 15, 2025 | 5:17 pm GMT+7
Samsung Vietnam facilities in Thai Nguyen province post 5% revenue growth in 2024: outgoing CEO
Factories in Thai Nguyen province of Samsung Vietnam earned a total revenue of $26.3 billion in 2024, up 5% year-on-year, said outgoing Samsung Vietnam CEO Choi Joo Ho.
Companies - Wed, January 15, 2025 | 4:22 pm GMT+7
Draft decree on offshore wind power sets requirements for foreign investors
A draft decree on offshore wind power being compiled by Vietnam’s Ministry of Industry and Trade includes requirements for foreign investors, such as financial capacity and past experience.
Energy - Wed, January 15, 2025 | 4:01 pm GMT+7
Kim Long Motors, China’s Changan Automobile to build 50,000-unit plant in central Vietnam
Vietnamese automaker Kim Long Motors and China’s Changan Automobile Co., Ltd. will join hands to build a plant manufacturing 5-7 seat passenger cars in the central city of Hue.
Industries - Wed, January 15, 2025 | 1:43 pm GMT+7
From a third-grade dropout to famous ceramics maker exporting worldwide
Ly Ngoc Minh, chairman and founder of Minh Long Ceramics Company, defied the odds by transforming from a boy who only completed the third grade into the creator of a globally recognized ceramic brand and the owner of a ceramic product museum.
Companies - Wed, January 15, 2025 | 12:30 pm GMT+7
Nestlé-invested bottled water maker La Vie LLC must pay tax arrears, payment delay fees of $2.6 mln in Vietnam
La Vie LLC, a joint venture between Nestlé Water and a Long An province-based Vietnamese company, must pay tax arrears and payment delay fees of VND66.7 billion ($2.6 million), according to tax authorities.
Companies - Wed, January 15, 2025 | 11:51 am GMT+7
Russia willing to help build Vietnam’s nuclear power industry: Prime Minister
Russia is willing to help build Vietnam’s nuclear power industry with its extensive experience in the field, says Russian Prime Minister Mikhail Mishustin.
Politics - Wed, January 15, 2025 | 9:38 am GMT+7
Philippines allows import of poultry, pork from Argentina
The Argentinean Ministry of Foreign Affairs, International Trade and Worship has announced that the Philippines authorized Argentine exports of poultry meat and pork and the extension to export beef with bone, offal and fats.
Southeast Asia - Wed, January 15, 2025 | 9:12 am GMT+7
Vietnam likely to offer minimum 80% output purchase guarantee for offshore wind power projects
Vietnam’s Ministry of Industry and Trade is drafting a decree on incentives for offshore wind power, including exemption and reduction of some fees and a commitment to minimum purchase of energy output.
Energy - Wed, January 15, 2025 | 8:51 am GMT+7
Thai cabinet approves bill to legalize casinos, gambling
Thailand’s cabinet on Monday approved a draft law that will legalize gambling and casinos, a move aimed at boosting tourism, jobs, and investment.
Southeast Asia - Tue, January 14, 2025 | 8:00 pm GMT+7
Vietnam's Saigonbank has 5th major shareholder
Real estate firm Dai Cat JSC has completed the acquisition of an additional 16.75 million shares of Saigon Bank for Industry and Trade (Saigonbank), becoming its fifth major shareholder.
Banking - Tue, January 14, 2025 | 7:55 pm GMT+7
Indonesia’s BRICS membership aims to cool down geoeconomic rivalry
Indonesia is hoping to cool down the global economic rivalry by joining the Russia and China-led BRICS, according to Foreign Affairs Minister Sugiono.
Southeast Asia - Tue, January 14, 2025 | 7:50 pm GMT+7
