VIENTIANE, July 4 (Xinhua) -- The Pharmaceutical and Medical Products Business Association was officially launched to strengthen the industry and support joint efforts that drive business growth and contribute to Laos' socio-economic development.

The launching ceremony, held on Thursday, highlighted the association's roles, rights, and responsibilities, and served as a platform to discuss its strategic action plan, which aims to strengthen the sector and enhance its contribution to national development, Lao Economic Daily reported on Friday.

Speaking at the event, President of the association Valy Vetsaphong said the launch aims to promote collaboration on plans to support businesses, factories, and entrepreneurs in the sector, with the goal of maximizing industry benefits and contributing to Laos' socio-economic development.

With over 40 member companies, the association is supported by strong cooperation from the public and private sectors and close collaboration among industry stakeholders. It is expected to play a key role in driving growth, innovation, and quality standards in Laos' pharmaceutical and medical products sector. ■