The Malaysia Global Business Forum as part of its series on the Budget 2018 spoke with key opinion leader, Rizal Kamaruzzaman the Executive Director of Tindakan Strategi Sdn Bhd for his views on the upcoming budget.
“Malaysia stands equal or above regional standards for public healthcare delivery, as the nation continues to develop and move towards a future as stated in TN50 the ability for individuals to access healthcare will become increasingly important, especially given the demographic shifts that the country will see in the coming decades. To do so key elements need to be in place building on existing strengths and responding to future demands.”
“Cost of living and affordable healthcare have been key issues, it is expected that the government will use this budget to take greater steps in addressing current issues while investing in the required facilities to address longer term requirements.”
“To ensure high levels of human capital retention in the medical care services sector a special income tax relief for medical practitioners and operations staff including nurses to motivate them to remain in Malaysia should be considered. This will minimise the high turn-over rates and talent drain due to individuals taking up international opportunities after the government has spent considerable money on training and skills development.”
“Inflationary pressures on medical services that have a negative impact on individuals or family’s disposable income and their ability to remain healthy and productive remain a threat to the nation’s future development. Having said that, the government has been able to keep the cost of primary care constant over the last 12 months.”
“The government should consider boosting TERAJU and UKAS grants from the current rate of 15% and 10% respectively to a flat 20% of total construction cost to ensure that private sector investors in healthcare infrastructure projects can offset development cost against inflation and longer gestation periods for larger projects.”
“These steps would be in line with the government’s stated goal of improving the quality of life for the people and improving productivity that will ensure future economic growth of the country.” Stated Rizal Kamaruzzaman when commenting on the upcoming budget 2018.
Rizal Kamaruzzaman is the Executive Director of Tindakan Strategi Sdn Bhd, a leading Bumiputera consultancy firm focusing on sustainable and strategic development, at the same time he currently is a council member of the Research and Development Foundation the strategic think tank of the Malaysia Malay Chamber of Commerce (YKPD-DPMM) and sits on the Advisory Board of FELCRA Training and Consultancy Sdn Bhd.