LETTERS: The 2025 Budget signals a commitment to strengthen Malaysia's healthcare system, particularly its focus on procuring pharmaceutical products and medical devices from local manufacturers.
This strategic move, highlighted during the budget speech, is a crucial step towards enhancing medicine security and fostering a more self-reliant pharmaceutical industry, as affirmed by industry leaders in a recent statement.
This commitment is particularly encouraging for local generic medicine manufacturers, who play a vital role in providing Malaysians with access to affordable, high-quality medications.
By prioritising locally manufactured generics and medical devices in government tenders and healthcare programmes, the growth of this sector will accelerate.
- Bolstering medicine security: By reducing reliance on imported pharmaceuticals, we are less vulnerable to global supply chain disruptions and price fluctuations, ensuring a more stable and reliable supply of essential medicines for the rakyat.
- Driving economic growth: Prioritising local procurement stimulates the domestic pharmaceutical industry, creating jobs and boosting Malaysia's economic competitiveness.
- Fostering investment: The assurance of government contracts creates a more attractive environment for both foreign and domestic investments in the pharmaceutical sector.
This is particularly relevant as Malaysia seeks to move up the value chain in pharmaceutical manufacturing, including biopharmaceuticals.
Long-term government contracts can attract significant investments required to establish advanced manufacturing facilities and encourage the transfer of cutting-edge technology to Malaysia.
- Enhancing healthcare affordability: A robust local generic medicine manufacturing base can contribute to more competitive pricing for essential medications, making healthcare more affordable and accessible for all Malaysians.
It is also crucial that a robust and competitive pharmaceutical sector remains a priority in long-term national development plans such as the New Industrial Master Plan 2030 (NIMP 2030), the National Investment Aspirations (NIA), and the 13th Malaysia Plan (RMK-13).
This commitment to strengthen the pharmaceutical industry is evident in the collaborative efforts already underway.
The Pharmaceutical Productivity Nexus (PPN), a joint initiative between the Malaysian Organisation of Pharmaceutical Industries (MOPI) and the Malaysia Productivity Corporation (MPC), brings together stakeholders from government, industry and academia to drive productivity improvements and enhance the industry's global competitiveness.
The 2025 Budget's focus on local pharmaceuticals is a positive step towards a healthier and more secure future for Malaysia's wellbeing.
SHARVIN A. SUBRAMANIAM
Malaysian Organisation of Pharmaceutical Industries,
Petaling Jaya, Selangor
The views expressed in this article are the author's own and do not necessarily reflect those of the New Straits Times