Malaysia: Rising Healthcare Expenses

The country’s healthcare expenditure is projected to rise about three percentage points to 7% of gross domestic product (GDP) by the year 2020, said the Health Minister.

“The healthcare sector is expected to generate RM35.5bil in gross national incomes and create 181,000 jobs by the year 2020,” he said at the National Key Economic Area (NKEA) healthcare progress update yesterday.

The healthcare sector is fast becoming a crucial segment in the overall economy and the Minister wants the private sector players to be involved in this vital industry to drive growth including to improve citizens’ accessibility to quality healthcare.

“It is mandatory that we set in place industry-friendly policies to sustain high growth momentum in the coming years. We will support collaborative efforts between public and public healthcare providers”.

He noted that to date, 15 out of 17 sub-sectors had been completely liberalised including dental specialists, private hospitals, medical specialists sub-sectors where 100% foreign equity participation is allowed.
the STAR 02-08-2013

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