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Budget 2025: prioritise medicine security, enhance healthcare delivery, urge medical industry players | Scoop
Industry players of the medical field has urged the government to provide continuous support to the industry and ensure medicine security, amid Budget 2025 being tabled this Friday. – Pixabay pic, October 15, 2024
News

Budget 2025: prioritise medicine security, enhance healthcare delivery, urge medical industry players

Medical industry expert highlights govt spending 2.4% of GDP on healthcare so change will take time, but call for continued support especially in talent development 

Main Author Image
Arjun Mohanakrishnan
Updated
9:00 PM MYT

 

KUALA LUMPUR – With Budget 2025 set to be tabled in the Dewan Rakyat this Friday, industry players from the medical sector hope to see an emphasis on the continued improvement of service delivery to patients.

Speaking at the International Healthcare Week 2025 press conference yesterday, held at the Malaysia International Trade and Exhibition Centre (Mitec), Malaysian Organisation of Pharmaceutical Industries (Mopi) executive director Billy Urudra pointed out that the Madani government has been proactively seeking feedback from the medical industry for the upcoming Budget 2025.

Additionally, during consultations with the Finance Ministry and the Investment, Trade and Industry Ministry, Mopi made suggestions to the government to introduce policies and incentives to improve medicine security.

“This is to ensure the supply of essential medicines is made available to the people.

“This can only happen if these products are manufactured locally,” Billy said.

However, encouraging such production would require large investments in new technologies, which would enhance Malaysia’s medical industry and create new jobs, he added.

Similarly, Association of Malaysian Medical Industries (Ammi) chairman Andy Lee said that his association had extensive dialogue with key ministries over Budget 2025 and hopes that the government will ensure continuity of support to the medical industry.

“Grants given in 2024 should continue to 2025 as we are a priority sector.

“So continued support and making sure that we develop talent would guarantee we remain the manufacturing hub for medical products in the region,” Lee said.

Meanwhile, Lee also urged for increased government spending to ensure enhanced healthcare delivery to patients.

Pointing out that healthcare spending by the government is 2.4% of the gross domestic product, Lee acknowledged a significant jump could not happen overnight and the government should take a gradual approach.

“We are in line with what the Health Ministry is doing, particularly with the digitalisation of health records and financing integration between the public sector and insurance for example.

“So perhaps there could be a timeline where in 2030 we already see a significant increase in public spending,” Lee added.

The International HealthCare Week, which is a strategic partnership between Matrade and Informa Markets Malaysia is scheduled for July 16 to 18 next year at Mitec.

The event is aimed at attracting key players from the medical industry and further establishing Malaysia as an emerging hub in the healthcare sector. – October 15, 2024

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