STAY AHEAD
STAY AHEAD

Financing a new healthcare system

 

Health is, together with education, the big beneficiary of the kingdom’s lion’s share of the national budgets over the last couple of years. The government is willing improved the health system in the kingdom of Saudi Arabia with new hospitals, day care centres, training new doctors and investing heavily research and new technologies.

 

The national Budget approved for 2011 allocates SR68,7bn ($18,4 bn) to health and social affairs, a rise of 12 percent from the previous year. The expenditure will be used to continue the construction of 12 new hospitals that are set to open doors by the end of this year. At the moment, there are some 120 hospitals under construction in Saudi Arabia that will be generously affected by the higher expenditure forecasted for this year.

 

The private sector is already taking good note of the increased spending and is showing signs of a healthy comeback, assisted by the government's commitment to invest and a much awaited pickup in bank credit growth,

 

And indeed Saudi Arabia is particularly interesting for a number of reasons: it has a growing and aging population; it is strategically located in a crossroads of continents and the sector still lacks serious developments according to the new ages.

 Public healthcare spending has been growing steadily since at a compound annual growth rate of 7.2% since 1999 and spending is expected to reach US$20 billion by 2016.

 

To encourage R&D activities, KSA offers significant development finance and research grants through institutions such as the King Abdulaziz Centre for Science and Technology (KACST) and the King Abdullah University for Science and Technology (KAUST).

 

And actually, the government determination goes beyond hospitals and research and enters the pure business world to life science industries such as pharmaceuticals, medical devices and agrochemicals.

 

Its 27 million people and excellent location; its low-cost access to feedstock especially appreciated by pharmaceuticals and agrochemicals manufacturers and the existence of complimentary industries such as plastics, packaging, and formulation are the best attraction to investors.

 

BOX

Good reasons to invest

  • Brisk growth in market size, eg demand for hospital beds is expected to rise from 51,000 today to 70,000 by 2016. The number of hospitals will rise from 364 to 502
  • Large increases in healthcare consumption supported by increasing private wealth and public sector investments
  • Opportunity to cater to unmet demand across the healthcare value chain including medical education, research, facilities, provision and reimbursement
  • Structural changes in service provision and recent moves towards a compulsory, insurance-based system that will extend to include all Saudis
  • Exceptionally high incidence of major disease categories in KSA including diabetes, heart disease, and congenital disorders
  • Private hospitals, pharmaceutical companies and medical device manufacturers seeking international partners
  • An unfulfilled need for a comprehensive, national health information system.
  • Surging healthcare demand in Saudi Arabia and the surrounding region
  • Low utilities costs, land rents and tax rates create an economical investment platform
  • The easiest place in the MENA region to do business
  • Attractive incentives, strong IP protection and massive financial support for R&D, provided by a government that is firmly committed to developing the life sciences sector
  • Major supportive investments completed and in the pipeline, such as the recent launch of a Biotech Park in Jeddah
  • Low-cost local access to feedstock for intermediate chemicals and other inputs into pharmaceuticals and agrochemicals production
  • Complementary industries such as plastics, chemicals, and formulation and packaging provide substantial operating efficiencies
  • Heavy public investment in science and technology training to furnish a skilled workforce, along with other supportive investments in infrastructure and facilities

 

Source: SAGIA

 

Kuwait in Spain

Click in the image to read the full publication (Spanish)

Our latest investment report on Kuwait was recently published in one of the leading Spanish dailies, ABC.  FindMe in Kuwait explores the economic perspectives of Kuwait and the country´s future plans to compete with its fast developing neighbours. Once the leading country of the Gulf, Kuwait has remained silent for the past decade. And although many would like to see faster changes, Kuwait is moving, at its pace, to them. Inexorably. Learn about who is who in Kuwait and read what the leaders say about their own future in our upcoming release: FindMe in Kuwait Mobile app.

 

Stay tuned - Stay Ahead

GGC launches FMS and FMB mobile apps

Click in the image to download the app

GGC concludes FindMe in Bahrain

Click to download the guide

Global Gulf Consulting has concluded its latest production on Bahrain, FindMe in Bahrain giving the country a fresh approach after a couple of difficult years of local demonstrations that matched the global recession.  Bahrain is a small island in the Arabian Gulf with an incredible potential for logistics, industries and tourism. FindMe in Bahrain was supported by both the public and private sector of Bahrain.  Banagas, Nass Corporation, BBK and DHL were GGC strategic partners in the development of the series among others.  

FindMe in Bahrain is available at the local bookstores Jashamal and online as well as in the Apple Store. It is a full business leisure and business guide for any investor or visitor interested in traveling to Bahrain or for those that already live there.

 

New release: FindMe in Saudi 2013 Edition

FindMe in Saudi offers a multi-faceted overview combining business and leisure, economy and heritage. The book aims to capture the current development of Saudi Arabia in the words of the people who live and work there. It is an authoritative source of information for investors, businessmen and travellers produced to firmly position KSA as an attractive investment destination.

In contains general information about the country´ economic performance and who is who as a sectorial overview and a leisure guide.    

FindMe in Saudi 2013
FMS 2012 A4 v15 web.pdf
Documento Adobe Acrobat [45.4 MB]

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