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Treasury Department held Press Conference for hosting the 29th MDC in May.

The Treasury Department, the Ministry of Finance, is preparing to organize the 29th Mint Directors Conference (MDC) for the executives of 47 mints from 43 countries. As the international event will facilitate the exchange of knowledge on minting and its markets, the Treasury Department has set its sight on putting the information to good use. Such knowledge will definitely be useful to its plan to establish itself as an international coin maker and also to generate sustainable income for Thailand.

 

Mr. Chakkrit Parapuntakul, director general of the Treasury Department, reveals that, “We are preparing to host the 29th Mint Directors Conference (MDC) between 1 and 8 May 2016 at the Centara Grand at CentralWorld Hotel and the Outrigger Laguna Phuket Beach Resort. HRH Princes Maha Chakri Sirindhorn will graciously inaugurate the official meeting at 9am, Monday 2nd May 2016. MDC is a world-class forum, bringing together 47 members from 43 nations. These members are state and private organizations that have run mint-related operation. At the upcoming forum, they will discuss their studies and researches on minting and marketing techniques so as to share their knowledge. The MDC, moreover, will include competitions on coin and packaging designs. For such international contests, mints from across the world will unveil their best work pieces to demonstrate their technological and skill excellence”.

 

“Coins are relevant to people’s lives much more than most of them think. All aspects of minting are directly related to the country’s economy, be they about minting cost, anti-counterfeiting, machinery used, manufacturing technology or coin distribution. So, when the Treasury Department takes up the role of the MDC host, it stands to reap many benefits. Key information from various aspects will be coming to its hands. Case studies, research findings, design and manufacturing know-how and modern minting technology from overseas will be discussed at the upcoming MDC. The event will not only facilitate the exchange of knowledge but also create networking opportunities for its participants. So, there are business opportunities awaiting. The upcoming MDC therefore is crucial for the further development of the Royal Thai Mint and coin-making,” he adds.

 

Mr. Chakkrit continues that, “According to the Ministry of Finance’s minting guideline, production cost must be reasonable when compared with the face value of coins. Raw materials must be durable, affordable, of good quality and up to international standard. Modern technology should be used to add value to coins, like making them appealing, too. Importantly, minting techniques must minimize the risk of counterfeiting. In addition, the Ministry of Finance has a policy to push the Royal Thai Mint further into the international stage. In response to this policy, the Royal Thai Mint has joined hands with Britain’s Royal Mints in organizing coin management and manufacturing courses for various ASEAN nations for the ultimate goal of establishing Thailand as the region’s minting training hub. The move is also designed to pave way for Thailand to nudge Cambodia, Laos, Myanmar and Vietnam into replacing their small-denomination banknotes with coins, and to present the Royal Thai Mint as the ASEAN’s leading coin-maker. In all, such plan will generate income for Thailand on a long-term basis. So, the 29th MDC is really a part of the preparations that the Treasury Department and the Royal Thai Mint need to embrace for Thailand’s goal of becoming an international coin maker”.

 

On the coin and packaging competitions that will be held during the 29th MDC, members can submit their entries in various categories. For the coin competition there are four categories namely: Commemorative coin – gold, Commemorative coin – silver, Circulating coin and Other coin(s). Each category will have two winners, one being the Most Beautiful Coin and the other the Most Technologically Advanced Coin.

 

The packaging completion also has four categories as follows:

            1st Category – Most Creative / Innovative and Unique Packaging

2nd Category – Best National Set 

            3rd Category – Best Package to Encourage Collecting

            4th Category – Marketers’ Choice (any packaging that does not fit into the first three categories)

 

“Winning the competitions mean winning opportunities to attract jobs from across the world and also to generate huge income. Many countries, after all, have been looking for skilled, creative and technologically-advanced mints that will help them design and produce circulating as well as commemorative coins. In early February, the Thai Royal Mint produced a commemorative coin that features a cow elephant and her baby. This coin is created to honor HM King Bhumibol Adulyadej for his initiatives to promote the conservation of wild elephants and also the loving co-existence between humans and the pachyderms. The elephant-themed coin has already been on display at the World Money Fair 2016, Germany. The distribution of this commemorative coin will take place in June not just in Thailand but also beyond. The overseas distribution will highlight the Royal Thai Mint’s potential and ability to deliver coin-making services at the international level,” Mr. Chakkrit concludes.

 

In the meantime, NCC-PCO which is an official conference organizer for the 29th MDC is honorable to be a part of this successful press conference. This is also a kickoff to create awareness for Thai people as a host on welcoming all delegates from all over the world who are coming to attend the conference.