News Aug 24, 2023

Traphaco 'elevates' sustainable values

On August 23rd, 2023, Traphaco Joint Stock Company attended the annual Vietnam Corporate Sustainability Forum (VCSF) organized by the Vietnam Chamber of Commerce and Industry (VCCI), Vietnam Business Council for Sustainable Development VBCSD) organized.

Mr. Nguyen Quang Vinh, Vice Chairman of Vietnam Confederation of Commerce and Industry (VCCI), Chairman of Vietnam Business Council for Sustainable Development (VBCSD)

VCSF 2023 has the theme " Green Global Race: From strategy to sustainable business practices". Along with hundreds of business delegates attending, Traphaco representative, Ms. Dao Thuy Ha – Chief Operating Officer of the company had lively discussions on key contents such as: promoting the implementation of the circular economy model, low emission; building green supply chains; biodiversity conservation; sustainable energy transition; blue ocean economic development; Practice the Environment - Society - Governance (ESG) assessment framework in businesses towards green growth.
In Vietnam, the trend of sustainable business is also becoming clearer in recent times. Many typical businesses, including Traphaco, are implementing clean and green production models very well, bringing circular elements deep into the production and supply chain; creating sustainable livelihoods for disadvantaged communities through an inclusive business model; or practice a culture of diversity and inclusion in businesses. However, perhaps the story of sustainable business still mainly takes place in large enterprises, and has not taken place enthusiastically and strongly in the small and medium-sized enterprises sector.
The story of sustainable business is of particular interest during this period, when biodiversity loss, natural resource depletion, and climate change create the heaviest pressures on humanity. That also means solving the environmental problem and climate change will contribute significantly to ensuring the sustainable future that humanity wants. From this perspective, business models that "serve" nature - businesses that create a positive impact on the environment are one of the most optimal solutions for the sustainable development goals of businesses, thereby contribute to the prosperity and prosperity of each country and nation.
Concepts of circular economy or product traceability, doing business with low-income people, developing social enterprises, building diverse culture, etc. have been approached by Traphaco and gradually linked with Traphaco as a long-term development strategy since the 2010. As in the past, within the framework of VCSF last year, Traphaco was one of the guest speakers in the seminar "Promoting diversity and inclusion in business sustainability in the digital age". Through its story, Traphaco shows a sustainable direction with unique marks, imparting experience and inspiration to the business community.
During 50 years of construction and development (1972-2022), Traphaco has boldly chosen and persevered with its own path when pioneering the "Herbal medicine revolution". To maintain its No. 1 position in Herbal medicine, Traphaco pioneers the development of clean medicinal herbs with the GreenPlan project. Traphaco creates a 4-party linkage model (inclusive economic model) including: the state (government) - farmers - scientists - entrepreneurs, to take advantage of many resources, capabilities, and knowledge. The party aims to develop clean medicinal areas meeting GACP-WHO international standards.
The project brings many values to Traphaco and the community, first of all the company is autonomous in raw materials for both output and quality, thereby ensuring the quality of drugs on the market. Not only that, the project also has a positive impact on disadvantaged communities, creating jobs, sustainable poverty eradication, and increasing income for ethnic communities in many localities (Lao Cai, Nam Dinh, Hoa Binh, Phu Tho, Phu Yen...); create opportunities for their children to go to school, reducing child labor. Training and guidance help them gain more skills, knowledge, expand their thinking, access new technology, and support their other activities.
Traphaco's mission is to create green pharmaceuticals - produced on the basis of a green supply chain from raw materials to clean production technology, distribution systems, and services that are environmentally friendly and bring values to the community. With contributions over the past half century to sustainable development and disadvantaged communities from an inclusive economic model, Traphaco is the first unit in Vietnam to become a member of the Global Alliance for Bio-Trade. University of Ethics (UEBT), is the Top 10 Sustainable Enterprises in Vietnam, honored to win the 2022 Asia Corporate Excellence and Sustainability Enterprise Award.
With the large participation of speakers from pioneering businesses implementing sustainable business in Vietnam, this year's VCSF seminar series has spread good practices, offered key solutions and recommendations. policies to support the business community to more effectively implement low-emission production and business models; enhance sustainable supply chains; promote clean energy transition; improve the effectiveness of sustainable corporate governance practices and ESG framework practices; as well as encourage business participation in biodiversity conservation towards sustainable development goals.
“Green race - from strategy to sustainable business implementation: Businesses that care about people and protect the environment will regain trust in the brand.”

Deputy Prime Minister Tran Hong Ha - Chairman of the National Council for Sustainable Development and Competitiveness Enhancement and delegates took memories photos

Traphaco 'elevates' sustainable values

At the 2023 annual general meeting of shareholders, Traphaco announced a series of notable directions, affirming that the company's research journey to find breakthrough solutions for human health care is always renewed. Firstly, in the Herbal medicine segment, Traphaco continues to diversify products, developing more high-end products, in company groups that have strengths such as Hoat Huyet Duong Nao, Boganic... to expand the target audience. client. In the modern medicine segment, in addition to the strong product portfolio such as methorphan cough medicine, eye drops, etc., bioequivalent products (BE) will be the keyword to focus on in 2023 and beyond.
Also at this year's shareholders' meeting, Traphaco announced research to upgrade Traphaco Hung Yen factory to meet EU-GMP standards. “Investing in an EU-GMP factory is a special decision, considering financial costs, implementation time and complex technology. However, we will continue to invest more and consider this as one of Traphaco's strategic steps in the near future," Traphaco's Board of Managements affirmed.
One of the distinct competitive advantages at Traphaco that allows the Company to deploy dual strategies is that the quality of professional human resources is among the top in Vietnam, with increasingly improved labor productivity.