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Malaysia is working toward the goal of achieving high-income nation status by 2020, setting the pace for the region. There is an opportunity to attract new foreign investment by eliminating bureaucratic delays and unnecessary costs.
Malaysia has as a well-developed health care system, with universal health care access for its citizens and a goal of achieving high-income nation status by 2020. There is an opportunity to attract new foreign investment by improving intellectual property protection and eliminating bureaucratic delays and unnecessary costs.
Health care is vital to the country’s long-term development, but rates of non-communicable diseases are on the rise and delays in approvals of new medicines due to burdensome requirements can mean patients in Malaysia wait longer for the latest treatments and cures than patients in other countries. And while there are opportunities to increase private partnerships and foreign investments, recent government actions have raised questions about whether new health technologies can be effectively protected in Malaysia.
Getting essential medicines to patients could be faster by harmonizing ASEAN regulatory processes. This would reduce administrative costs and regulatory delays for each country. Removing barriers to foreign investment will give health care in Malaysia renewed attention, foster medical innovation and attract more value-added partnerships.