Ministry To Help Generate Income From Health Industry

KUALA LUMPUR, July 25 (Bernama) -- The Health Ministry will establish a Healthcare Development Industry Unit to develop and promote the lucrative healthcare industry which is likely to hit RM8 billion in the next five years.
Minister Datuk Dr Chua Soi Lek said Monday the cabinet had approved the ministry's proposal to set up the unit which would be in place within the next three months.
"The unit will be focused to help agencies in the health sector to promote, sell and benchmark Malaysian healthcare products to compete in the international market," he told reporters after opening the 26th Asian Medical Students' Conference here.
"The time has come for the ministry to play an active role to generate income from the health sector which can benefit the economy rather than just giving medical services to the public," he said.
He said the healthcare industry, ranging from pharmaceutical products, health tourism, medical equipment to herbal medicine, was worth billions of ringgit and yet remained unexploited.
"The health industry has a big potential but our problem is that we are not focused, we always take the easy way out," he added.
For instance, Dr Chua said, last year Malaysia exported medical equipment, including products like condoms, gloves and syringes, worth RM4.6 billion and drugs worth RM468 million.
"The export of Chinese drugs and traditional herbs like Tongkat Ali and Kacip Fatimah, which is growing without any assistance, is worth RM4 billion a year.
"Health tourism is another revenue generator but remains unexplored compared to Singapore and Thailand," he added.
He said health tourism was a healthy business and more foreigners were arriving in Malaysia for medical treatment.
In 1998, 39,140 foreign patients sought treatment in local private hospitals but the figure rose to 174,189 last year. In 1985 there were only 133 hospitals but the number has increased to 218 now.
"Income (from foreign patients) was RM105 million in the private sector but this is on the low side. This is under-reporting, private hospitals are not revealing actual figures for fear of competition" he added.
He also said that the Medical Devices Act 2006 was being enacted in line with the government’s move to further expand and protect the growing sector,
Some 500 medical students from 14 countries are attending the week-long conference themed "Technology in Medicine" in Kuala Lumpur.