‘Investors sought’ for two major healthcare projects

The Kingdom will unveil two healthcare sector projects at the first Business Development and Investment Forum in Health and Medical Industries (BDFEX) scheduled to be held later this week, it was announced yesterday. The event organisers said in a press statement that the two projects, the first of their kind in Bahrain, would be presented to investors from Bahrain and other Arab Gulf countries at the opening of the forum. The event will run from October 23 to 24 at the Diplomat Radisson Blu Hotel and Spa, according to the event website.

The first project consists of a complex of private and integrated medical clinics, and the second is an industrial zone for health and medical industries, the statement noted. The six-storey medical clinic complex, the statement continued, would cover an area of 8,000-10,000 square metres and include two underground service floors, an emergency entrance and a heliport. It will include specialised clinics available on freehold or rental basis and would be equipped with all the necessary facilities, ranging from operation rooms, emergency department, medical and radiology laboratories to admission rooms and suites.

The complex will also feature reception halls, meeting rooms, a conference room equipped with the latest technology, a research centre, library, pharmacy, and parking for doctors and clients, the statement noted. The second project, according to the press statement, would be a complex for light and medium medical industries such as injections, sterilisers, medical solutions and all medical supplies.

Member of the organising committee of the forum, Musaed Al Qarni, revealed that this forum addresses many axes, including encouraging the exploration and encouragement of more national industries in the field of health, including the manufacture of medicines, equipment and medical supplies, in order to provide the requirements of health facilities from hospitals and centres Clinics and pharmacies in Bahrain, Saudi Arabia and the GCC, in addition to attracting foreign investment in this area.

Mr Al Qarni stressed that BDFEX Forum aims to encourage investment in the pharmaceutical industries, develop the health sector and support them as part of national efforts in achieving drug security. “The pharmaceutical industry is witnessing global interest by factories, investors, research centres, universities and others, especially with the achievement of rewarding returns for it, and its growing year by year,” he said.

BDFEX aims to accelerate the pace being made by the Gulf countries in terms of making remarkable progress in the construction of health care services and therapeutic tourism and the manufacture of high-quality medicines and drugs “Gulf pharmaceutical products are comparable to the quality of major European and American companies, pointing in this context to the forum is also focusing on supporting the registration of more patents for medicines in the Arabian Gulf region, because of the rewarding material returns on the one hand, and saving on the costs of importing drugs on the other,” Mr Al Qarni added.

BDFEX forum will review the great efforts of the GCC countries in order to stimulate the private sector to invest in the pharmaceutical industries through the provision of loans, exemptions and incentives, and the establishment of companies for the pharmaceutical industries and medical supplies, in partnership with the private sector.