Najib Razak, Malaysian Finance Minister, and who is expected to become Malaysia’s prime minister on March 31, said one of his goals is to increase the service sector to 70 per cent of GDP, from 54 per cent, in an effort to establish “a knowledge-based economy” that would be less reliant on manufactured exports.
Along with Islamic Finance, Mr. Najib cited healthcare, education, and eco-tourism as targeted sectors.
Link to the article:
We have been a strong and vocal proponent of Malaysia’s healthcare sector for over two years. The country’s leading listed healthcare companies are integrated, innovative, and not limited by geographic or cultural provincialism.
These companies have for some time fully understood the challenges of healthcare in emerging AND developed countries. Nursing colleges as part of their portfolio are the norm. So too advanced pharmaceutical distribution and tracking. Multi-country penetration is common. Advanced facility design, diagnostic technology, and finance structures are common place.
KPJ Healthcare, the country’s No 1 listed healthcare company is led by a woman, who also leads the world’s first syaria compliant hospital REIT.
In this article Mr. Najib also comments on the intention to relax foreign investment rules. As a diverse, multi-cultural, Muslim country, Malaysia has all the advantages matched by few others in the region.
Back in the March 2008 issue of the PHM Emerging Markets Healthcare Monitor we wrote:
“…Today, Malaysia’s healthcare industry exports its expertise around the world. And the part I especially appreciate is that those exports are knowledge based rather than manufacturing based…..A pretty good investment for the future.”
And in 2007, in the April issue we wrote:
“…How is it Malaysia has so many listed and private companies that truly understand the healthcare market?
At its core is a healthcare system in Malaysia with its strong private component, sophisticated financial structures (including syaria compliant finance and a keen understanding of insurance and re-insurance) and a supportive entrepreneurial climate.”
Though Malaysia is facing financial challenges today like the rest of the world, its healthcare sector is years ahead of the rest……….HK
Note: PHM International and Healthcare Technical Services SDN BHD, a KPJ Healthcare Company have an ongoing business relation.