Imexpharm Adopting Sustainable Development as Growth Driver

During its 44-year development (1977 - 2021), Imexpharm sometimes faced difficulties and challenges that seemed to be unsurmountable. Fortunately, sustainable development approaches with the improved quality of products, support of shareholders, partners and customers have enabled Imexpharm to overcome all these challenges and obtain remarkable achievements. The following interview with Mr. Nguyen Quoc Dinh, Chairman of the Board of Directors of Imexpharm, will shed light on efforts for sustainable development of this giant pharmaceutical firm. Thanh Tung reports.

Could you introduce more highlights of the company’s sustainable development strategy? What have you won by pursuing this strategy?

Being aware that product quality is a decisive factor to the success or failure of a company, we have always taken the lead in investment in product research and product quality improvement and applied advanced international standards in Vietnam. Specifically, during 1997-1998, when Vietnam's domestic pharmaceutical production was fledging and not as developed as it is now, we actively adopted the GMP-ASEAN standard, followed by WHO-GMP and now EU-GMP. In addition, a stable and dynamic working environment for all employees to work with dedication and peace of mind is also one of our goals.

Despite confronting obstacles when we invest for quality and create sustainable jobs, we always persevere because the goal of a better tomorrow helps us steadily move forward. With these right strategies, what Imexpharm has gained are the support of shareholders for the company's policies and the enthusiastic dedication of nearly 1,300 employees. Pursuing transparency in business and taking quality as a core competency, Imexpharm's brand prestige has been increasingly asserted in the pharmaceutical market and we are proud that despite difficulties and unexpected "silences", Imexpharm is always confident to face headwinds to move forward as described in the philosophy that it pursues "1,000 years later, the lotus flower will still bloom as now".

Social responsibility lays the foundation for corporate sustainability, creating a launching pad for a company to reach out and integrate with the world economy. So, how has Imexpharm exercised corporate social responsibility?

For Imexpharm, in addition to being a manufacturer of high-quality products that are affordable for Vietnamese people, we think that life is sharing, giving and rewarding. Therefore, every year, we always support the education and health sectors of the country.

Education is always a top policy of the nation and we believe that supporting future generations not only creates a launching pad for education development, but also helps build a better and more sustainable future for them. Imexpharm has funded Huynh Thuc Khang scholarships and Dong Thap Study Promotion Fund (present-day Nguyen Sinh Sac Study Promotion Fund) for 17 years.

In addition, sharing difficulties with poor patients and the health sector, especially during the peak of the fight against the COVID-19 pandemic, is also a way for Imexpharm to thank all patients and the health industry during this unprecedentedly difficult time. Built in confidence, Imexpharm brand has strongly risen from a small business in Dong Thap province - the land of lotus - and we, therefore, understand better than anyone that a sustainable business must go hand in hand with a sustainable community. That is also the reason why we always attach great importance to social responsibility.

What specific solutions and efforts has Imexpharm made to adapt to the COVID-19 pandemic?

First of all, without doubt, since the COVID-19 pandemic outbreak, Imexpharm has gone through a challenging time. All of our business activities have been affected. However, bearing in mind that employee health is the most important, we have always fully followed the recommendations and instructions of health experts and local authorities to keep our employees safe while maintaining business continuity. We maintain a “three on the spot” production approach for factories and even a “four on the spot” approach supported by medical agencies. In addition to strengthening support for all employees to have access to vaccines, we also fully equip our employees with protective equipment and have a working scenario amid the pandemic.

At present, even though we have moved to a phase of safe adaptation to the pandemic, we are still ready to continue our “three on the spot” and “four on the spot” approaches if necessary. At the same time, Imexpharm always informs and reminds all employees to strictly follow all health regulations to ensure safety for their own and their beloved ones. Imexpharm is also very excited because, during the peak period of the outgoing contagion, it has successfully achieved the goal of maintaining production and business and above all, protecting all employees throughout the pandemic.

How has Imexpharm invested in digitization and what are your future development approaches?

Since its establishment, investment in modern technology has always been our top concern. In 2013, Imexpharm put into operation the SAP-ERP system, becoming one of the first Vietnamese pharmaceutical enterprises to apply ERP to business, thus creating a good digital technology platform for the adoption of the EU-GMP-standard production management system. Recently, the company deployed the distribution management system (DMS) for all pharmacists, enabling them to work with orders easily on smart devices under the supervision of the company.

Online connectivity has made Imexpharm's sales strong during the pandemic season. Other activities like coaching, training and customer care are also made possible thanks to the flexible transition to the online form. Despite facing a lot of difficulties, Imexpharm has still maintained quite a good number of specialized seminars to connect physicians, doctors and pharmacists across the country. Definitely, technology has greatly supported our core activities during the pandemic season.

Given that the pandemic is still very complicated, reducing physical contact is a goal of Imexpharm. Therefore, in the coming time, we will focus on investing in two areas: barcode-based warehouse management and online cashless payment. Due to the typical characteristics of the pharmacy, bank transfer or e-wallet payment is not common. In 2022, Imexpharm will boldly initiate this transformation to match the principles of effective pandemic prevention and transparent financial management in the company.

By Thanh Tung, Vietnam Business Forum