Bernama KUALA LUMPUR, June 12 (Bernama) -- The Ministry of Health and Novartis Corporation (Malaysia) Sdn Bhd signed a Memorandum of Understanding (MoU) to enter into a partnership to build various health care capabilities to further enhance the Economic Transformation Programme (ETP).
Healthcare is one of the 12 identified National Key Economic Areas (NKEAs)and has a growth target of RM42.2 billion, while generating more than 260,000 jobs by 2020.
"The MoU is a landmark agreement between the Ministry and Novartis. With Novartis' diversified portfolio and the company's initiative to build healthcare capabilities in Malaysia to benefit our patients, I am encouraged to partnership with them," said Health Minister Datuk Liow Tiong Lai after witnessing the signing ceremony here.
Novartis Corporation (M) Sdn Bhd has established a special US$700 million fund for the possible support of Malaysian health care start-up companies.
The MoU was signed between the Ministry's Secretary-General, Datuk Kamarul Zaman Md Isa and Country President for the Novartis Corporation in Malaysia, Avinash Potnis. Also present was Novartis Corporation (M) Director William Hinshaw.
