Saudi Arabia – The Ministry of Health is working with partners in the private and public sectors to implement a package of initiatives for privatization projects in the health sector in several regions of the Kingdom, with an initial investment volume exceeding $7.3 billion, Minister Tawfiq Al-Ali said. – Rabia said.
He said that the Saudi Ministry of Health aspires to increase the private sector's participation in the sector from 25 percent today to 35 percent by 2030.
It seeks to operate medical cities, hospitals and primary care centers, highlighting the launch of a project worth approximately $187 million.
The project aims to build and operate Al-Ansar Hospital in Medina with a capacity of 244 beds, and the partnership contract is expected to be signed during the fourth quarter of this year.
He added that the Ministry of Health also seeks to provide 74 primary healthcare centers in the Kingdom, with initial investments amounting to approximately 266 million US dollars, and the partnership contract is expected to be signed during the third quarter of next year.
The ministry is also working on a $6.1 billion project to build two 1,500-bed medical cities in Asir and Al-Jawf regions.
The Minister stated that all of this aims to provide specialized health services to the residents of the southern and northern regions of the Kingdom, and the partnership contract is expected to be signed in the second quarter of 2023.
Business consultant Majed Al-Saqqaf told Arab News that privatizing the sector will have a positive impact on raising the level of competition and reducing costs for the state upon privatization, especially if mandatory insurance is applied to citizens.
However, Al-Saqqaf said the health sector is very large and occupies a high percentage of the state budget, which means that its reform took longer than others.
The UAE healthcare market is expected to grow at a CAGR of around 10% from 2019 to 2023. The UAE has witnessed major deals in terms of mergers and acquisitions and strategic tie-ups between healthcare stakeholders and public and private entities to boost the healthcare industry.
With the increasing initiatives taken by the government, the healthcare market in the UAE is witnessing an amazing growth. This is due to the stable lifestyle of the people of the UAE and the increasing medical tourism in the region.
The UAE government is also working extensively to expand and modernize its healthcare system to develop a robust world-class healthcare infrastructure.
The government also encourages private sector participation in developing existing infrastructure and matching the quality of services provided in developed countries.
Moreover, the UAE government is working on liberalizing policies to attract foreign investments, in order to improve the standard of healthcare and boost the healthcare industry.
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