Updated on 5 June 2012
Malaysia has to reshape its clinical trials industry to become a favourable spot for clinical research activities in the region
Malaysia's aspiration is to be a developed nation by the year 2020. With 10 years more to prepare for this anticipated year, current Prime Minister Datuk Seri Mohd Najib Tun Razak announced that the country will undergo a major economic transformation, with revamp planned for 12 national key economic areas. These changes, when implemented, will help the country emerge as a strong economic competitor in just a few years. One of the key projects involve creating a supportive ecosystem for the growth of clinical research, and this article will give an update on the modifications outlined for this industry under the Malaysian Economic Transformation Programme.
Clinical research comes under healthcare, which has five other economic projects: 1) mandating private health insurance for foreign workers; 2) pursuing generics export opportunities; 3) reinvigorating health travel through better customer experience, proactive alliances and niche marketing; 4) creating a diagnostic services nexus to achieve scale in telemedicine for eventual international outsourcing; and 5) developing a health metropolis- a world-class campus for healthcare and bioscience. Of the six projects, clinical research was categorised as a quick-win project, which means it is ready for immediate implementation. The only other quick-win project under healthcare is the private health insurance for foreign workers.