Investors welcome to develop health care industry in FAB
As long as they comply with all laws and regulation pertaining to the practice of medicine in the country, the Freeport of Bataan (FAB) is open to investors interested in developing the healthcare industry.
Emmanuel D. Pineda, chairman of the Authority of the Freeport Area of Bataan (AFAB), issued the statement following recent news that medical tourism is poised to continue growing globally in the next few years.
“Healthcare presents an opportunity for eco-zones like the FAB where the medical tourism angle can be built on,” he added.
“In particular, given a sizable bulk of healthcare costs account to rehabilitation and not just operation, the latter can be done in Manila but the rehabilitation can be done in the FAB,” the AFAB chair added, noting that the Freeport’s nice beaches, clean air and lower costs would be attractive for the foreign market.
“Foreign firms can also manufacture healthcare equipment in the FAB,” he stressed.
The AFAB administrator believes that although the Philippines’ medical tourism is still a growing industry, the country can attract foreign investors engaged in health-related businesses.
The Philippines is recognized as one of Asia’s most advanced nations in the field of healthcare, with some leading hospitals in the country already accredited by the Joint Commission International and certified by the International Organization for Standardization.
The most recent projection is that the Philippine medical tourism industry will become more than a USD3 billion industry by 2017, with an average of around 200,000 foreign patients expected to come to the Philippines every year.
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