Thailand to boost medical economy
Smart investment in the medical and wellness industry will generate a substantial proportion of the national income this year, said Thai Public Health Minister Somsak Thepsutin.
Thepsutin made the statement while chairing a recent meeting to drive policies increasing Thailand's potential as a medical and wellness hub.
Thai Public Health Minister Somsak Thepsutin. Photo courtesy of bangkokpost.
He announced seven key policies that aligned with global health trends to strengthen the medical and wellness industry, believing that they will help create THB690 billion ($20 billion) in economic value for Thailand in 2025, or around 3.39% of the nation's GDP.
According to the ministry's permanent Secretary Opas Kankawinpong, the Health Economics Department has recently been established to determine policies regarding health economics through data-driven analysis, allocate resources, and create an efficient public health system that is fair and sustainable.
More Thai herbs have been included on the national drug list under the National Health Security Office, which is expected to generate over THB13.5 billion in annual revenue, he added.
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