Efforts to boost private investment in health sector of Oman

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Efforts to stimulate investment in Oman’s healthcare sector were among a number of topics deliberated upon during the Omani-Arab Investment Forum, which was held in Salalah earlier this week.

In remarks to the Observer, Dr Ahmed bin Tahir Ba’Omar, Advisor at the Ministry of Health, said the forum addressed investment laws and guidelines, including those related to private sector investment in healthcare.

“We discussed identifying incentives and enablers provided by the Ministry of Health to facilitate investments, whether by citizens or foreigners, in establishing healthcare projects in the Sultanate of Oman,” he stated.

The Ministry, Dr Ahmed explained, offers various enablers, such as procedures, legislation, and some facilitation in acquiring land, either owned by the Ministry or other entities. Additionally, many existing projects can be adopted and executed by the private sector, he said, adding that a working paper presented during the forum, highlighted efforts by the Ministry to address obstacles hindering the private healthcare sector.

The delay in the large-scale adoption of the Health Insurance Law is one such issue, said Dr Ahmed.

Shedding light on the challenge, he said: “Firstly, many residents cannot afford treatment costs, although they are relatively low. Since most workers belong to low-income groups, many seek treatment abroad or return to their home countries. Health insurance has gone through many stages and is now with the responsible body, the Financial Services Authority, to undertake the necessary legislative and executive procedures.

However, there is ongoing coordination with the Financial Services Authority (FSA) to initiate this project.” There are several models of health insurance and the Ministry of Health, Financial Services Authority and Oman Chamber of Commerce and Industry have reviewed the law multiple times to develop the best systems and models available globally and regionally, he further noted.