SR41 billion investment opportunities in health sector

MAKKAH — Some 40 investment opportunities worth SR41 billion are likely to come up in the healthcare sector in the next five years, according to an official of the Saudi Arabian General Investment Authority (SAGIA). SAGIA is working in cooperation with the Ministry of Health to develop the healthcare system in the Kingdom, Dr. Basma Bint Saleh Al-Bahairan, chairperson of the Health and Life Sciences Sector in SAGIA, was quoted as saying by Al-Madina Arabic daily on Saturday.  She said the per capita spending in the healthcare sector doubled from SR1,400 in the year 2000 to SR2,800 in 2013, with an annual growth rate estimated at 6.4 percent. She said the investment plan in the health sector that was prepared by the Ministry of Health in tandem with SAGIA has resulted in specifying some 40 investment opportunities worth SR41 billion in the next five years. The sectors include diagnostic equipment production, services, education and training, the manufacturing of pharmaceuticals and medical preparations. The investment opportunities specified as a priority include partnerships between the public and private sectors in the field of healthcare services, the plasma industry, the initiative for family-owned medical industries, for manufacturing medical imaging machines, and for producing vaccines and serums.  As Saudi Arabia’s population continues to expand rapidly and urbanization continues, millions of new healthcare consumers will be added to the Kingdom’s existing cities as well as the new Economic Cities. Aided by large budget surpluses, the public sector is set to make unprecedented investments to support healthcare provision and complementary sectors such as scientific research. Such investments will require strong private sector partnerships as well as a strong private sector presence overall, to sustain and capitalize on expected demand.