The healthcare sector benefits from a substantial share of the Kingdom’s budget, with over SAR172billion earmarked for healthcare in the 2019 budget, an increase of 8% compared to the previous year’s budget of SAR159billion. 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 foreign investment restrictions in early 2019 meant that foreign investors may now fully own, operate, and manage healthcare institutions, including general and specialized healthcare centres.
The regulatory regime for healthcare is also undergoing a major overhaul, with legislative projects currently underway for new laws to regulate the provision of healthcare and public health. The intention behind these new projects is 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.
Our team 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.