Manufacturing
by Thailand Board of Investment
Thailand’s Medical Sector Resilient in the Face of the Pandemic
The response of Thailand to the global COVID-19 pandemic has been one of the world’s most successful. The extremely low number of infections and fatality rate has won praise from the World Health Organisation, the United Nations and experts around the globe. The Global COVID-19 Recovery Index has consistently ranked Thailand in the top five of out of 184 countries in the effectiveness of its battle against the virus, underlining the resilience of its medical infrastructure. This will come as no surprise to those familiar with the medical sector of Southeast Asia’s second-largest economy. It has built a reputation as a leading medical tourism destination, on a foundation of world-class medical facilities and personnel, combined with outstanding cost performance. The global pandemic has impacted medical tourism, but hasn’t stopped Thailand innovating in healthcare.
according to the Thailand Board of Investment (BOI), which introduced a range of measures this year to accelerate investment in the medical sector. These applications, from both global and domestic investors, were predominantly for the manufacturing of medical equipment and supplies to support the rapid response to COVID-19, We have approved more than 80 percent of the projects in order to respond to the situation, while paving the way for Thailand’s longer-term development as a manufacturing hub for medical devices and suppliessaid BOI Secretary General Ms Duangjai Asawachintachit.The battle against COVID19 is only intensifying investor interest in the country’s already advanced medical infrastructure. Along with cutting-edge research laboratories and medical device manufacturing, there are more than 60 hospitals certified by the Joint Commission International (JCI), the leading global accreditation body for healthcare facility standards, and more than 60,000 licensed doctors in Thailand.
Resilient innovation and investment The country is becoming an increasingly important destination for investment in medical tech and services, in line with the government’s Thailand 4.0 concept of a dynamic, high-value and sustainable economy that delivers better quality of life for all. More than 50 applications for investments in projects totalling $400 million dollars were submitted in the first half of 2020,
Thailand has taken gradual steps to reopen for medical tourism, allowing limited numbers of people to enter the country for treatment since the end of July 2020. Rigorous protocols are in place for medical tourists and the up to three people who can accompany them, including proof of negative testing for COVID-19 issued no more than 72 hours before departure, repeated tests once in-country, 14 days hospital quarantine and other anti-infections measures.
DIGITAL ISSUE NO.02 : MARCH 2021
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