BOI ready to drive Thailand’s medical hub ambitions with 60 accredited hospitals
Source：The Nation
From：Taiwan Trade Center, Bangkok
Update Time：2024/03/04
Thailand has become a medical hub not only for ASEAN, but also for Asia and beyond. Domestically, the country has been operating a universal healthcare system since 2002, with the policy proving so successful that over 99% of the Thai population is now covered by public healthcare.
Thailand’s healthcare industry is supported by more than 1,000 public and 300 private hospitals. The wide-ranging services offered by these facilities cover a large number of advanced treatments including, for example, cancer treatments, hip replacements, organ transplants, open heart surgery and laser eye surgery, among others.
Despite already having such a large and diverse healthcare sector, Thailand’s aging population is expected to increase the need for healthcare services in the years to come.
In relation to other countries in ASEAN, the proportion of citizens aged over 60 is one of the highest in the region, and it is forecast that, by 2045, this proportion will exceed that of other regions such as Europe and the United States, which is sure to further drive the domestic healthcare demands in the future.
Thailand has a great potential to become a global medical hub, with 60 hospitals meeting international healthcare standards, the Office of the Board of Investment (BOI) chief said.
Mr. Narit Therdsteerasukdi, secretary-general of the BOI Office, said on January 21st that BOI would also offer initiatives to support this ambitious goal.
With 60 hospitals, Thailand is the fourth country globally and the only country in the region to have the highest number of hospitals that meet the Joint Commission International (JCI)’s stringent standards.
JCI is a non-profit organisation that sets the gold standard for healthcare quality and patient safety globally. Their accreditation programme is rigorous and voluntary, with only the finest hospitals and healthcare organisations being able to achieve it.
Mr. Narit added that investors from Japan, China, the United States and Europe have made direct investments in the production of medical tools and supplements in Thailand.
He also expressed confidence in Thailand’s potential to become a leader in the region with the advantage of internationally accredited medical treatment and the readiness of hospitals.
Last year, the BOI received applications for privileges for 65 projects within the medical and health industries, amounting to an investment of 16 billion baht. The majority of this investment, totalling 9 billion baht, was allocated to 10 hospital projects and 2.7 billion baht for 24 projects focusing on the production of medical tools.
Another 1.6 billion baht was dedicated to establishing nine special medical service centres, including those for kidney, cancer and mental health treatment, Mr. Narit said.
Another 1 billion has been earmarked for 12 projects of medicine production, he added.
Mr. Narit confirmed that the BOI is committed to offering various incentives, including non-tax incentives, to support the development of Thailand as a prominent medical hub.
Source: https://www.nationthailand.com/