Sharjah's healthcare sector expected to grow by 9.3 per cent by 2016

Sharjah, 18 May 2013 - Sharjah Healthcare City (SHCC), set to be the largest healthcare facility in the UAE, has announced that it will be participating in the upcoming UAE - Korea Economic Partnership Forum, taking place in Seoul from 27-28 May 2013, with the aim of showcasing the emirate's various healthcare investment opportunities to South Korean investors.

The SHCC delegation, headed by Sharjah Healthcare City Chairman, HE Abdulla Ali Al Mahyan, will be attending the Forum which is aimed at building special economic partnerships between the two nations, strengthening relationships across different sectors, enhancing bilateral cooperation, and increasing the volume of investment opportunities.

Commenting on the SHCC's participation, HE Abdulla Al Mahyan said: "Healthcare is a particularly a promising sector in Sharjah. Yet, despite growing demand for healthcare services, only a few players operate across the sector's value chain, meaning that opportunities abound for foreign players to make strategic investments and tap the potential of the undeveloped healthcare market. South Korea is not only a vibrant economy but also a strategic partner for the UAE in vital sectors, and our goal is to highlight the numerous healthcare investment opportunities available to South Korean investors attending this special event."

The SHCC's objectives for the event - securing investment in Sharjah's healthcare sector - are supported by figures found during a recent study on the sector, which is expected to grow by 9.3 per cent by 2016. Today, there are 15 hospitals accommodating 898 beds in Sharjah, and with the Emirate's growing population, it is estimated that Sharjah will require additional 633 beds over the next five years according to a study conducted by Sharjah Health Authority.    

Al Mahyan said: "The Forum will seek not only to promote and activate commercial and economic partnerships, but also to raise awareness of a number of vital and sustainable projects and initiatives. As such, the importance of this event lies in the direct and indirect opportunities it offers for companies, economic institutions and investors, and we are hoping that synergies can be created in the healthcare arena, specifically."

He added: "Sharjah has a sterling global reputation across many fields, and we are confident that investors will see the value in the emirate's promising healthcare sector. We hope to showcase the many untapped opportunities, particularly in specialized care, and to portray the emirate as an ideal business destination for investors due to its strategic location, unique characteristics and numerous competitive advantages."

South Korea itself boasts a high quality, universal healthcare system. Seoul, in particular, is a booming medical tourist destination and is now considered the fastest-growing developed country in this arena according to BMI Healthcare.

The Third UAE - Korea Economic Partnership Forum is expected to attract a number of companies from different, including healthcare, trade, IT, manufacturing, tourism, finance, construction and real estate, and will provide both countries with an opportunity to explore their different industries and to initiate cooperation through new and unique businesses. More than 100 companies and governmental authorities from the UAE will be exhibiting, and the event is expected to attract more than 3000 businessmen and investors from South Korea.

Sharjah Healthcare City (SHCC) was formed under the directive and vision of H.H Sheikh Dr. Sultan Bin Mohammed Al Qassimi, Member of the Supreme Council, Ruler of Sharjah with the objective to transform and enhance the regional healthcare service industry and establish Sharjah as the most sought after destination for healthcare services is set to commence operations by early next year.

The primary aim of the Sharjah Healthcare City (SHCC) is to manage an immediate solution for the hospital bed gap that exists in Sharjah and Northern Emirates. The City will also enhance the already growing healthcare infrastructure of the Emirate including the world class Sharjah University hospital.

The Sharjah Healthcare City (SHCC) will offer prospective investors i.e. individuals and companies across the globe an excellent investment opportunity in the field of healthcare and related fields under convenient free zone rules and regulations through single window service system.

-Ends-

Yousef Al Taweel
Sahara Communications
E-mail: yousuf@saharagcc.com
Mobile: 050 556 25 20

Fadia Daouk
Sahara Communications
E-mail:fadia@saharagcc.com
Mobile: 050 538 39 73

© Press Release 2013