India’s Exim Bank to invest in Myanmar’s Healthcare Sector

Photo: Thet Ko/Mizzima

Exim Bank’s Market Outreach Programme on Indian Investment in Myanmar’s Healthcare Sector, was launched on February 5, at Hotel Sule Shangrila.

The Exim Bank, a statutory apex developmental financial institution, was set up in 1982 under an Act of Parliament of the Government of India to finance, facilitate and promote India’s international trade and investment. The Bank is managed by Board of Directors, which has high level representatives from key ministries of the Government of India, the Central Bank of the country, commercial banks, Indian financial institutions and industry. Besides having offices at all the major centres in India, Exim Bank has nine overseas offices, including a representative office in Yangon, Myanmar.

Improvement in healthcare facilities for citizens of Myanmar and providing affordable world class medical care to all the people of Myanmar is one priority of the Government of Myanmar.

According to a statement, India has established itself as a provider of excellent medical care and has emerged as a preferred partner for affordable treatment of critical ailments and organ transplant by many countries.  Every year many patients from Myanmar travel abroad for affordable and efficient medical treatment, which results in outflow of foreign currency from the country and results in inconvenience to patients and their relatives.

Exim Bank’s Market Outreach Programme is an initiative, aimed at facilitating and financing Indian investment into emerging economies, encouraging them to explore possibilities of investing /setting up facilities abroad.

In this regard, Exim Bank brought a delegation to Myanmar on February 5 under its Market Outreach Programme Initiative (EMOP).  The delegation is comprised of representatives from leading Indian private sector hospitals, pathology labs, medical equipment and devices manufacturers, and hospital management companies. Mr. Debasish Mallick, Deputy Managing Director of Exim Bank of India led the delegation.

The EMOP is in line with Government of India’s ‘Act East Policy’ under which Exim Bank is partnering the Ministry of Commerce & Industry by way of a framework to facilitate Indian private sector investment in the CLMV region. The Bank has undertaken pre-feasibility studies on select sectors in the region and has identified healthcare as a potential area of investment by the Indian private sector into Myanmar. Exim Bank has awarded the contract for preparation of a Detailed Project Report regarding investment in Myanmar’s healthcare sector to a reputed consultancy firm, which is expected to submit its findings shortly, the statement also said.

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