The impact of the global COVID-19 pandemic has served to highlight the importance of the healthcare sector in the Kingdom of Saudi Arabia, and globally. The healthcare sector has long benefited from a substantial share of the Kingdom of Saudi Arabia’s budget, with over SAR167 billion earmarked for healthcare in the 2020 budget. Of particular interest to the private sector, healthcare is a primary target for private-sector participation, in line with Vision2030 and the NTP, with targeted projects including the privatisation of one of the medical cities.
Amendments to formerly applicable foreign investment restrictions meant that foreign investors may now fully own, operate, and manage healthcare institutions, including general and specialized healthcare centres.
The regulatory regime for healthcare has also undergone a major overhaul, with the goal not only to unify the range of healthcare-related laws currently in place, but to increase best practices standards in the provision of healthcare and public health.
Z&Co.’s team of lawyers advises on a range of healthcare-related industries, including international pharmaceutical manufacturers and KSA-based manufacturers and distributors. Our government advisory team also works closely with the Ministry of Health on a number of regulatory projects.