- Posted on: September 29, 2021
Publication showcases business opportunities for European investors
We are pleased to announce the publication of GIZ’s Sector Brief on Health Care in Cambodia! The Brief is part of a series of 7 publications so far, each analysing a key economic sector in Cambodia and showcasing related potential business opportunities for European investors, entrepreneurs and partners.
Cambodia’s population has grown rapidly in recent years, from 9 million in 1990 to 16.7 million in 2020. Currently, a large share of the population is very young, 65% being under the age of 30. The new generations are likely to live longer (average life expectancy has shot up from 53.6 years in 1990 to 70 today), have higher income levels and have fewer children than their parents.
These dynamics mean Cambodia’s health care system will change dramatically, as it adapts to face new health risks stemming from more affluent lifestyles and an older population. The incidence rates of diseases such as diabetes and cardiovascular diseases have already increased sharply in recent years. Even notwithstanding this shift, the sector still faces other, more structural challenges, despite the fact that most health indicators for the 2030 United Nations Sustainable Development Goals have been met.
Most Cambodians rely on private health care providers for treatment and prefer those operated by foreign entities. They enjoy a higher reputation vis-à-vis public health care services which tend to lack proper funding. European investors will therefore find several opportunities to improve Cambodia’s health care provision. An initial concern for prospectors is whether to register a company locally, which is more time-consuming but ensures more product control, or to work with an already-registered local partner. Aside from the regulatory aspect, investors will find the following sub-sectors open to ventures: pharmaceuticals, health supplements, dentistry, medical equipment, health insurance, setting up new hospitals and clinics.
The Sector Brief will be presented by GIZ and the German Business Group in Cambodia (GBC) through a webinar planned for the end of November 2021. Joining GIZ and GBC will be the German Asia-Pacific Business Association (OAV), an international exchange platform for knowledge and experience across industries. The OAV has already collaborated with GIZ and EuroCham Cambodia on past webinars, e.g. showcasing business opportunities in Cambodia’s textiles and agribusiness sectors.