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Burma is attracting India's health care investor base
Burma is intensifying its effort to make much-needed investment in the health care industry. In a market outreach programme organised by the Export-Import Bank of India on Monday, the state tried to encourage the possibilities and debate the issues associated with the development of the area. Attendance by India's health care experts and investor.
In view of the growing need for privately provided health care provision, the Myanmar authorities have made this a key investment area. India, with its close links to Myanmar and its expertise in pharmaceuticals manufacturing and clinical facility managment, is considered a highly attractive investment at a juncture when there is a shortage of clinics, devices, medical care and qualified physicians and nursing staff.
However, the good part of the message is that the Ministry of Sport and Public health has pledged to strengthen the public system and provide comprehensive care following the success of the National Plan for Public Hospitals for 2017-2021. Attracting Indian investment was also a step after the two nations joined a MOU on cooperation in the area of medical and nutrition.
As part of the deal, India will offer trainings for regional health workers, support in developing personnel and managing clinics, and assist in developing rules for trade in medicines and health care devices. There is now a need for more FDI as Myanmar's government clinics come under increasing pressures and the need for personal health care is increasing.
Aye Aye San, who was representing the Myanmar Private Hospitals Association during a podium debate at the meeting, reported that less than one single patient per 1,000 is currently available in Myanmar, while the doctor-to-nurse rate is 1:1 in comparison to at least 1:3 in neighboring states.
Myanmar people are now paying nearly $6 million for overseas healthcare because there are no clinics specialising in cardio, neurological, kidney transplantation and urological care. Dr. Thein Aung, Chairman of Parami Hospital, said 150,000 Myanmar sufferers are now looking for healthcare in Thailand and Singapore.
"In Myanmar, things are gradually shifting towards accepting a privately-run health system. We used to be under a communist system where personal clinics were not common," said Dr Thein Aung during the Discussion. "Now, the allotment of the GNP for the development of a health system, both publicly and privately, is 5% of GNP in comparison to 1% before.
More and more patients are now using privately owned health care facilities and there is a need for high-quality health care. One of the areas with the greatest investment needs is the need for the necessary technical infrastructures, including the hospital, centres of expertise and clinical centres. "There has been a move from health care outsourcing to the development of in-house capacities for the provision of health care as well.
There is a need for investment to create health care institutions that are accessible to the lower and lower classes," said Dr. Venkatesh ARP, head of Global Pharma Care, an India-based pharmaceuticals group. According to his estimations, 10-12 new clinics are opened each year throughout Myanmar by foreign investment from Singapore and Thailand in collaboration with regional investment.
"There is also a need for health care applications for better health care facility and health applications that help general practioners keep track of their patients' health data remotely," he added. According to applicable laws, non-Hungarian clinics may perform operations in Myanmar without a JV-supplier.
In the meantime, even international labs and suppliers of rare items of healthcare devices are allowed to work under international ownership," said Wanderbruggen. "There is a great shortage of healthcare insurances for SMEs and even privately owned companies find it hard to get adequate healthcare insurances for their people.
Hospital can help by providing small and medium-sized businesses with accessible healthcare plans, which is likely to be a worthwhile investment," he said.