First-ever finished and cut-gem market to open in early November

Myanmar’s first-ever finished and cut-gem market will open in the compound of Myanma Gem Museum in Yangon in early November, according to Myanmar Gem and Jewellery Entrepreneurs Association.

The association had intended to open the finished and cut-gem market in October this year.

“We had proposed to open the market in October this year. And now we have postponed it to early November, as officials are busy with the gem emporium in Nay Pyi Taw. The opening date will be decided after the association holds its meeting this week,” said Yone Mu, chairman of Myanmar Gem and Jewellery Entrepreneurs Association.

The finished and cut-gem market has the potential to earn more foreign exchange and create more job opportunities for the country.

“Our merchants have had to sell uncut gems, as the country has no finished and cut market. So the country has earned less in foreign currency. The finished and cut market for uncut stones is only in other countries. This move aims to avoid such cases and create more job opportunities,” he added.

The market will include a laboratory to allow foreign gem merchants to conduct tests on finished and cut gems.

They will be charged fees for use of the laboratory. Plans are underway to open such markets in Nay Pyi Taw and Mandalay.


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