The suggestion comes from Mr Ravidran Govindan, Chairman of Mercatus Capital regarding Vietnam’s health sector. Public and private investment for improvement of healthcare services in Vietnam has remained low and it is time the focus changed to basic needs like healthcare, added Mr Ravidran Govindan in an interview with Vietnam Business Forum. Giang Tu reports.
What do you comment on the investment of the health sector in Vietnam?
Vietnam has a population of almost 88 million and on an average there are only 12 doctors for every 10,000 people in the country. The numbers are much lower when we talk about rural areas of Vietnam where there are no hospitals and even the diagnostic centers are not fully equipped to serve the people of Vietnam. Additionally, if you look at the budget, only 7-8 percent of the total GDP is spent on Healthcare sector.
Looking at it purely from a regional point of view, the level of investments into the Healthcare sector in Vietnam has been lagging behind to a great extent. Public and private investment for improvement in healthcare services in Vietnam has remained low.
To my mind, this is a sector that has been ignored time and again in Vietnam. This seminar will shed light on some of the ways we can solve these problems.
There is a dire need for more well trained doctors, more hospitals, diagnostic centers with basic diagnostic tools, sanitization projects, and so much more. Till the time problems are not identified, they cannot be solved. This is what the seminar aims at doing.
So, how should Vietnam invest in this field?
Talking about the capital needs of health projects in Vietnam, even though I don’t have an exact number in mind, the best example to follow would be that of India. A lot private equity investment from all over the world has found its way into India. Likewise, Singapore has embraced no only investment but also the latest technologies like no other country in the region. The mindset and policies in Singapore have been very forward moving. Vietnam is already on the same path and will get there very soon.
Bringing in new technologies and investments into Vietnam along with cooperation and collaboration with international enterprises is the way forward, in my opinion. One of the many doors it will open for the development of the economy will be that of healthcare tourism
Is that the target of the seminar "Promoting international cooperation in attracting investment in the health sector" to be organised by VCCI and Mercatus Capital?
In the past, Vietnam has been focusing on Property and Property seminars. It is time the focus changed to basic needs like Healthcare, Education and Human Resourse Development. We intend to address one such sector in this seminar that is the Healthcare sector. We want people in Vietnam and overseas to see the Healthcare sector as one that is important to invest in and develop at a fast pace. By showcasing the Healthcare systems in Singapore, Malaysia, India, Indonesia and Philippines, we want to open discussions on how we can incorporate the same into Vietnam. The main purpose of the seminar is to create awareness about latest happenings in the Healthcare sector. This covers investment opportunities, technologies, systems and other wide range of topics.
And what do you expect from the seminar?
With these continued discussions, collection of ideas and the right mix of people, one only hopes to add to the evolution of Healthcare in Vietnam and I’m sure it will happen in the near future. Thus, I have a lot of expectations from this seminar.
At the same time, we are also introducing two very interesting technologies in the Healthcare space that are being nationally tested and deployed in many countries in the region. Firstly, AttuneLive, a pioneer in National Healthcare Information Systems and; Pellucid Network, a veteran in Tele-radiology technology. They have enabled many rural centers through national programs to have immediate diagnostic tools, inexpensively.
Expenditure that goes into millions of dollars (specifically for Healthcare) for governments of various countries has been cut down to 20 percent of that amount through the deployment of these techno