Mumbai: Export-Import Bank of India (Exim Bank) launched its first Market Outreach Programme (E-MOP) in Myanmar and Cambodia focusing on the healthcare sector. E-MOP is an initiative launched to create value addition for the Indian enterprises and promote India’s international trade and investment in emerging markets in sunrise sectors.
Healthcare has been identified as a priority sector by the Governments of Myanmar and Cambodia. A significant amount (approx. USD 6 mn.) is spent by patients of Myanmar on overseas treatment. There is also a high demand for hospitals in the country specialising in cardiology, neurology, kidney transplants, urology, etc. With sustained economic growth during the last decade, Cambodia has made substantial progress in improving health outcomes in recent years. However, the country still has maternal and child mortality rates that are among the highest in the region. Overall, Cambodia has a ratio of 0.71 hospital beds per 1000 population, with considerable variation across provinces. Availability of state-of-the-art diagnostic medical equipment, such as Magnetic Resonance Imaging (MRI) or Computed Tomography (CT) scanners, is still very limited.
Given the potential of the sector, Exim Bank led an Indian delegation comprising of multi-specialty and super-specialty hospitals, medical equipment and device manufacturers and pathology labs, diagnostic centres and clinics, to Myanmar and Cambodia during February 5-7, 2018. The delegation interacted with various stakeholders from the government, chambers, trade bodies and consultants from the healthcare sector of the two countries, under the outreach programme.
The inaugural programme in Yangon, Myanmar, was graced by Dr. Kyaw Zin Thant, Director General, Ministry of Health & Sports, Government of Myanmar and Prof. Dr. Aung Tun Thet, Senior Economist and Member of the Peace Commission of Myanmar. Prof. Tan Vuoch Chheng, Secretary of State, Ministry of Health of the Royal Government of Cambodia inaugurated the event in Phnom Penh, Cambodia, in presence of Ms. Manika Jain, Indian Ambassador to Cambodia. Business-to-business meetings between Indian companies and companies from Myanmar and Cambodia and visits to local hospitals were organised under the programme.
Speaking at the occasion, Dr. Kyaw Zin Thant said, “In spite of increase in spending on the healthcare sector by the Government of Myanmar in the recent years, the sector still faces many challenges. This poses immense opportunities for Indian companies, not only in investment but also health tourism from Myanmar to India.” Welcoming the Indian delegation, Prof. Dr. Aung Tun Thet, said, “The country has recently opened up and identified healthcare as a priority sector. The Government of Myanmar is very interested to promote the private sector and foreign direct investment in the country.”
Prof. Tan Vuoch Chheng, Secretary of State, Ministry of Health of Cambodia said that Cambodia is increasingly becoming a preferred investment destination and healthcare is of immense priority to the government.
Highlighting the trade and investment opportunities in the healthcare sector in the region, Mr. Debasish Mallick, Deputy Managing Director, Exim Bank, said, “Given the transition economies, Myanmar and Cambodia present very interesting opportunities for healthcare businesses and professionals. However, the current health status of the population in Myanmar and Cambodia is not favourable vis-à-vis the other countries in the region. Healthcare equipment, healthcare and pharmaceutical supplies, healthcare services and training are some of the sectors which Indian companies can consider for investment in Myanmar and Cambodia. Exim Bank is partnering the Government of India under its ‘Act East’ policy by way of a Project Development Fund for facilitating Indian private sector investments in the CLMV region. Under this initiative, healthcare sector has been identified as a potential sector for investments in Myanmar and Cambodia.”
Established by the Government of India, Exim Bank of India commenced operations in 1982 under the Export-Import Bank of India Act, 1981, to finance, facilitate and promote India’s international trade and investment. Today, Exim Bank serves as a growth engine for industries and SMEs through a wide range of products and services. Exim Bank has overseas presence in nine countries including Myanmar and Singapore in the ASEAN region.
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