28 Jun 2012, Amrita Tejasvi, BioSpectrum
Are public-private partnerships the way forward for emerging countries of Asia? The trend says so. Global analyst company, PricewaterhouseCoopers, suggests that the use of public-private partnership in Asia is rising, not just to attract investment but also to provide greater value for money, thereby reducing the burden on public finances. (Read Emerging nations turn to PPPs for healthcare)
For instance, to promote R&D at various stages, India decided to spend 30 percent of the Department of Biotechnology's budget in public-private partnerships.
Singapore is calling for public-private partnerships in order to boost investment in the region. For example, Roche established a $103 million translational medicine hub to partner with Singapore's scientific and medical institutions. "Roche has conducted research in conjunction with National University of Singapore, National University Hospital (including the National University Cancer Institute) and Singapore Health Services (SingHealth), city-state's largest healthcare provider. These partnerships have enabled Roche to advance its drug pipeline and speed up the company's drug discovery timeline," says Mr Kevin Lai, director, economic development board, Singapore. (Read India, Taiwan set up funds to boost investments)
Asian countries need to build a sound regulatory framework, fair and transparent bidding process, reliable health insurance scheme and an adequate supply of resources. All of these will come together to help attract the investors. (Read Hot investment destinations in Asia)