PHNOM PENH: Vietnam is inviting investors to fund the Ho Chi Minh billion-dollar healthcare venture that is poised to transform the southern city into a premier medical hub in ASEAN.
By tapping into Southeast Asia’s rising middle-class population, changing demographics, and better regional air connectivity, authorities are striving to position the city as a regional player with modern medical infrastructure.
According to Vietnam News, the city’s Investment and Trade Promotion Centre said that the city expects to have 150 medical projects with a total investment of RM8.7 billion (US$2.1 billion) between 2026-30.
“The city seeks to become a regional healthcare hub to reduce the number of people travelling abroad for medical care and boost medical tourism,“ said Ho Chi Minh’s Health Department representative Vo Hoang Nhan during a dialogue session with healthcare industry players in Ho Chi Minh, as reported by Vietnam News.
About 40,000 Vietnamese patients travel abroad yearly to seek treatment.
On the contrary, about 300,000 foreigners travel to Vietnam for medical treatment, mostly concentrated in eye surgeries, dental care, and cosmetic treatment. Currently, Ho Chi Minh attracts about 40 per cent of the medical tourists, according to Vietnam Briefing, a monthly news publication.
Vietnam is working towards its national modernisation vision to transform Ho Chi Minh, with about 10 million population, into a major smart industrial city by 2045 to compete with its neighbours.
At the same time, Vietnam aims to turn Ho Chi Minh into a key medical tourism hub in Southeast Asia to compete with other regional pioneers like Malaysia, Singapore, and Thailand, that boast top-notch healthcare facilities to welcome foreign patients.
RHB in its August research report revealed that the global medical tourism market was estimated at RM55 billion (US$13.1 billion) last year.
Medical tourists visiting ASEAN countries accounted for a third of global medical tourists.
“ASEAN is now home to renowned healthcare professionals with extensive medical expertise and are highly skilled in their respective fields, while state-of-the-art medical facilities play a part in attracting foreign patients,” said the report.
