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    Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

    Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

    Egypt’s food industries contribute 24.5% of GDP

    Egypt’s food industries contribute 24.5% of GDP

    $36mln contract for construction of Duqm fisheries complex

    $36mln contract for construction of Duqm fisheries complex

    Ministry signs agreement to support Oman’s honey industry

    Ministry signs agreement to support Oman’s honey industry

    Local, Italian companies partner up to establish food retail chain in Egypt

    Local, Italian companies partner up to establish food retail chain in Egypt

    Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

    Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

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      Aramco, DHL to build procurement and logistics hub for the energy sector

      Aramco, DHL to build procurement and logistics hub for the energy sector

      Second runway of Muscat airport to be ready this year

      Second runway of Muscat airport to be ready this year

      UAE-Oman rail network expected to bring about new era of collaboration and growth

      UAE-Oman rail network expected to bring about new era of collaboration and growth

      Saudi Arabia issues 124 licenses to industrial units in different sectors in January

      Saudi Arabia issues 124 licenses to industrial units in different sectors in January

      Qatar’s economic growth is strong: ICAEW

      Qatar’s economic growth is strong: ICAEW

      Egypt’s food industries contribute 24.5% of GDP

      Egypt’s food industries contribute 24.5% of GDP

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      Saudi Arabia real estate: PIF-backed firm signs largest deal valued at $1.5bn

      Saudi Arabia real estate: PIF-backed firm signs largest deal valued at $1.5bn

      Construction works of Egypt’s first eco-sustainable industrial complex kick off

      Construction works of Egypt’s first eco-sustainable industrial complex kick off

      Oman Construction Equipment Industry to 2028

      Oman Construction Equipment Industry to 2028

      $36mln contract for construction of Duqm fisheries complex

      $36mln contract for construction of Duqm fisheries complex

      What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

      What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

      Madayn working on major Oman industrial city projects

      Madayn working on major Oman industrial city projects

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        Oman signs $20bn hydrogen deals

        Oman signs $20bn hydrogen deals

        Suez Canal expects US$3.5 billion in revenues in H1

        Suez Canal expects US$3.5 billion in revenues in H1

        UAE and Egypt’s consortium to buy African renewables firm Lekela Power

        UAE and Egypt’s consortium to buy African renewables firm Lekela Power

        Fitch revises Saudi Aramco’s outlook to positive from stable

        Fitch revises Saudi Aramco’s outlook to positive from stable

        Investments in renewables in Egypt reach LE6 bn: Official

        Investments in renewables in Egypt reach LE6 bn: Official

        Egypt signs 8 gas exploration contracts worth $934mn over 15 months

        Egypt signs 8 gas exploration contracts worth $934mn over 15 months

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          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

          Saudi to be among world’s big leisure tourism hubs by 2030

          Saudi to be among world’s big leisure tourism hubs by 2030

          Qatar’s hospitality sector peaks despite turbulent 2020

          Qatar’s hospitality sector peaks despite turbulent 2020

          Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

          Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

          Staycations to stimulate Qatar’s hospitality sector

          Staycations to stimulate Qatar’s hospitality sector

          Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

          Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

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        • Agrofood
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          • Agriculture
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          Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

          Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

          Egypt’s food industries contribute 24.5% of GDP

          Egypt’s food industries contribute 24.5% of GDP

          $36mln contract for construction of Duqm fisheries complex

          $36mln contract for construction of Duqm fisheries complex

          Ministry signs agreement to support Oman’s honey industry

          Ministry signs agreement to support Oman’s honey industry

          Local, Italian companies partner up to establish food retail chain in Egypt

          Local, Italian companies partner up to establish food retail chain in Egypt

          Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

          Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

          Trending Tags

          • Business & Economy
            • All
            • Business
            • Economy
            • Finance
            • Industry
            • Technology
            • Trade
            • Transport & Logistics
            Aramco, DHL to build procurement and logistics hub for the energy sector

            Aramco, DHL to build procurement and logistics hub for the energy sector

            Second runway of Muscat airport to be ready this year

            Second runway of Muscat airport to be ready this year

            UAE-Oman rail network expected to bring about new era of collaboration and growth

            UAE-Oman rail network expected to bring about new era of collaboration and growth

            Saudi Arabia issues 124 licenses to industrial units in different sectors in January

            Saudi Arabia issues 124 licenses to industrial units in different sectors in January

            Qatar’s economic growth is strong: ICAEW

            Qatar’s economic growth is strong: ICAEW

            Egypt’s food industries contribute 24.5% of GDP

            Egypt’s food industries contribute 24.5% of GDP

            Trending Tags

            • CES 2017
            • Election Results
            • eSports
          • Construction
            • All
            • Infrastructure
            • Real Estate
            Saudi Arabia real estate: PIF-backed firm signs largest deal valued at $1.5bn

            Saudi Arabia real estate: PIF-backed firm signs largest deal valued at $1.5bn

            Construction works of Egypt’s first eco-sustainable industrial complex kick off

            Construction works of Egypt’s first eco-sustainable industrial complex kick off

            Oman Construction Equipment Industry to 2028

            Oman Construction Equipment Industry to 2028

            $36mln contract for construction of Duqm fisheries complex

            $36mln contract for construction of Duqm fisheries complex

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            Madayn working on major Oman industrial city projects

            Madayn working on major Oman industrial city projects

            Trending Tags

            • Energy
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              • Oil & Gas
              • Power & Electricity
              • Renewable Energy
              Oman signs $20bn hydrogen deals

              Oman signs $20bn hydrogen deals

              Suez Canal expects US$3.5 billion in revenues in H1

              Suez Canal expects US$3.5 billion in revenues in H1

              UAE and Egypt’s consortium to buy African renewables firm Lekela Power

              UAE and Egypt’s consortium to buy African renewables firm Lekela Power

              Fitch revises Saudi Aramco’s outlook to positive from stable

              Fitch revises Saudi Aramco’s outlook to positive from stable

              Investments in renewables in Egypt reach LE6 bn: Official

              Investments in renewables in Egypt reach LE6 bn: Official

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              Trending Tags

              • Hospitality
                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Saudi to be among world’s big leisure tourism hubs by 2030

                Saudi to be among world’s big leisure tourism hubs by 2030

                Qatar’s hospitality sector peaks despite turbulent 2020

                Qatar’s hospitality sector peaks despite turbulent 2020

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Staycations to stimulate Qatar’s hospitality sector

                Staycations to stimulate Qatar’s hospitality sector

                Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

                Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

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              GCC healthcare expenditure to top $80 billion in 2015

              KUNA

              June 8, 2014
              in Uncategorized
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              The total expenditure on healthcare (per capita) in all GCC member states increased considerably in 2011, said a report issued by KFH-Research, a subsidiary of Kuwait Finance House "KFH" explaining that total healthcare spending In the GCC region remains robust. Over the 10-year period between 2001 and 2011, health expenditure per capita grew at an annualized rate of 7.9% for the GCC region, said the report.

              However, the overall healthcare expenditure in the GCC as percentage of GDP remains low at 3.8%, below the world average of 10%. The United Kingdom spends 9.3% of GDP on healthcare, while the United State spends the most at 16.2%. By country, total healthcare expenditure as a percentage of GDP in Saudi Arabia and Bahrain is 3.7%, relatively better than other GCC member states. This is followed by the UAE (3.3%), Kuwait (2.7%), Oman (2.3%) and Qatar (1.9%).

              According to market consensus, the healthcare expenditure in the GCC countries is set to reach almost USD 80 bln in 2015 with public expenditure contributing approximately 64% of the aggregate.

              The increase in total health expenditure is parallel with the population growth, rapid urbanization and lifestyle disease in the GCC which led to increased demand for healthcare services in the region. The GCC healthcare market is projected to grow at an annual rate of 11% by 2015, with Saudi Arabia and the UAE being the fastest growing markets.

              The Kingdom of Saudi Arabia and the UAE are the largest markets together accounting for 75% of health spending in 2015 and are expected to be the fastest growing markets in GCC over 2010-2015 growing at over 12%, said the report. The public sector remains the major source of healthcare funding in the GCC, ranging between 63% and 80% of total health expenditure. In the public sector, the various health ministries of the respective countries are the primary healthcare service providers, although private sector spending on healthcare is steadily growing.

              Hospital beds can be a basic measure of healthcare infrastructure, as an increase in the number of beds to the population improves healthcare availability. The demand for hospital beds in the region is expected to be more than double by 2025, requiring almost 162,000 beds. At present, the number of beds in the GCC on average is below US and European averages, said the report.

              The distinguishing factor of the GCC markets as against other emerging markets is the massive role played by the governments and its unsustainability over the long run. Given that medical inflation is steeper than food inflation, the need for lowering the government share in health expenditure cannot be overemphasized. Government's willingness to promote the healthcare sector is seen as a positive sign for a surge in private investment in the region.

              The governments of the GCC countries have consistently endeavored to promote good health in the states. The proposed setting up integrated healthcare facilities in the form of healthcare cities and medical hubs, coupled with continuous improvement in technology and infrastructure, will significantly improve the availability and quality of healthcare services in the region.

              Healthcare costs continue to increase in the region partly due to the high prevalence of chronic diseases. It is expected that the GCC healthcare expenditure is set to reach USD 133.2 bln in 2018, reflecting CAGR of 16.2% over 2010- 2013.

              The MENA and GCC healthcare market is being driven by strong economic growth, rapid urbanization, demographic changes, growing occurrence of lifestyle diseases, active government investment, and initiatives to form a structured policy and regulatory environment favoring higher contribution from the private sector, said the report. In recent years, the countries in the MENA and GCC region have been regularly increasing their budgetary spending on healthcare. Aided by large budgetary surpluses, GCC governments, in particular, have allocated large sums to improve their healthcare infrastructures. However, given the rising cost of medication, governments might find shouldering the healthcare costs for citizens burdensome, as this strategy is not sustainable over the long term.

              Efforts to reduce the healthcare burden on the government and increase the role of the private sector through PPPs are likely to create tremendous opportunities for private equity players. However, in order for the medical industry to flourish in the MENA and GCC region, the healthcare infrastructure must be improved through a regulatory structure, the development of strategies to attract and retain professionals, as well as writing action plans for the development of facilities. Governments could play a more pivotal role in the healthcare sector, to enhance its reach and services in their respective countries. In addition there is a growing need for augmented medical facilities and improved medical insurance, for stronger healthcare market. Public private partnerships will surely aid in the development of the sector.
              KUNA
              8 June

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