Expert: medical tourism industry still has untapped potential for for investors

• 23 April 2020
• Local News
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Experts view major medical center development project in Cambodia as a high potential sector for economic growth, a good opportunity for investors to invest as there are only few major projects in this sector in Cambodia.

“Related to the medical-industrial sectors, we still lack hospitals and clinics in our country. That’s why most of the Cambodians are fighting to access hospitals in for example in Bangkok. When I was in Bangkok last month, some projects are developed close to hospital in order to accommodate all foreigners coming from Cambodia. They also put in place even some Cambodian doctors and translators,” said James Hodge, real estate expert in EuroCham breakfast talk on March 12, 2020, at Topaz Restaurant, Phnom Penh.

“We are seeing a few are looking at those areas, and a couple of them are very big plans. I think those looking for increasing trusts for Cambodians, not only for facilities in the country but also bringing in oversee patients for treatment here in Cambodia. Kind of, medical tourism industries which quite interesting, given the trend in South Korea and Japan other neighboring regions”, James continues.

There are three major projects that providing health and medical care with world-class standard, includes:

• The Prestige Hospital, a Singaporean standard hospital worth US$7 million opened on 30 March 2020. (Read more)

• The Sunrise Japan Hospital Phnom Penh is a Japanese standard hospital with an investment of US $ 35 million, officially opened in September 2016. (Read more)

• The last major private hospital, the Royal Phnom Penh Hospital, worth $ 50 million, completed in 2014.

“Maybe it is lacking a little behind from other sectors at the moment. But I think there is a good unrealized potential there,” added James.

“Having a hospital with such high standards isn’t just beneficial for the Cambodian population. It builds trust among investors and tourists with money who come from far away,” said Prime Minister Hun Sen at the hospital’s grand opening event in September 2016.

According to a report by Sun Rise Hospital, there are 210,000 Cambodians that go abroad for health and medical every year, for example, Vietnam (78%), Thailand (19%) and Singapore. 3%.

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