Middle-east Arab News Opinion | Asharq Al-awsat

Saudi Arabia Promotes Investment in Health Sector | ASHARQ AL-AWSAT English Archive 2005 -2017
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A female Saudi pharmacist works at the International Medical Center in Jeddah June 4, 2007. REUTERS/Susan Baaghil

Riyadh- Saudi Arabia is taking speedy steps through introducing some regulations and legalizations that would promote investment in the health sector, amid an approach to raise contribution of this sector in the GDP – an added value to the national economy.

The kingdom pays great attention to the health ministry affiliated healthcare centers, but is still seeking new mechanisms to develop the centers’ performance and to increase their number.

Similar to public hospitals, the centers provide free medical care services for residents of neighboring areas.

According to annual statistics of Saudi Arabian Monetary Authority (SAMA), the number of health care centers affiliated to the Ministry of Health reached 2,282 in 2015 while the number of private dispensaries totaled 2,760 – 20.9 percent more than health care centers.

The upcoming three years are expected to witness establishment of huge health centers in Saudi Arabia by domestic and foreign capitals, in a time when the Saudi economy is proving itself to be of the most capable to face fluctuations of global economies.

In the same context, the health care sector closed in the Saudi exchange stock market with a rise of 0.59 percent.

Further, the positive performance of Saudi firms in 2017 attracted foreign capitals, knowing that the firm’s operating profits soared 10 percent during the first half of 2017.

The Saudi economic reforms are a significant cause behind enhancing the investment climate in the country before the foreign capitals.

The kingdom didn’t only ease investment restrictions before foreign capitals in the shares’ market, but it also eased restrictions in various sectors.

This would contribute in transforming technology, nationalizing industry, increasing recruitment and enhancing private sector contribution in the GDP.