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Government, Entrepreneurs Cooperate to Develop Gems and Jewelry Market

The government will work together with local jewelers to raise interest and create a market for processed Myanmar gemstones and jewelry made locally, U Phyo Min Thein, Chief Minister of the Yangon Region Government, said during the opening ceremony of the Yangon International Gems and Jewelry Fair. The inaugural fair, which was held between January […]

Myanmar to Promote Local Gemstones, Jewellery for Higher Value

Myanmar will hold its first value-added gems and jewellery fair at the Lotte Hotel in Yangon between January 11 and 14, according to the Yangon Gems and Jewellery Entrepreneurs Association. The fair aims to showcase processed stones and jewellery pieces made from Myanmar gemstones. In fact, Myanmar-produced rubies, sapphires and jade are among the best […]

Foreign consultants help with ‘cleaner’ mining practices

Efforts are being made to pursue more environmentally friendly practices in the Lonkhin-Hpakant Gems Tract in cooperation with local companies. The jade mining operation in the Lonkhin-Hpakant Gems Tract has resulted in environmental damage. To address this impact, Environmental Management Plans (EMPs) were prepared by a team led by Australian-based consultants Coffey Myanmar Limited and […]

Jade Curse Tests Post-Sanctions Myanmar

Its embrace can bring wealth beyond measure, or instant death. It is a magnet for the most impoverished migrant workers and the most ruthless exploiters. Its haunts are a cauldron of armed conflict beyond the law of the land. In what could be one of its most challenging tests, how will Myanmar’s democratic government deal […]

US Gems Association Eyes Trade Ties as Sanctions End

The American Gem Trade Association (AGTA) arrived in Myanmar for the first time this week to assess the gems sector and build trade relationships ahead of an anticipated end to the US sanctions regime, which would allow the legal import of Myanmar rubies and jade. The association’s president, Jeffrey Bilgore, said the mission had been […]

Gems and Jewellery Entrepreneurs Hustles for Lower Tax Rate

Gem entrepreneurs have urged the Ministry of Planning and Finance to review the commercial tax rate on the gems sector which is listed as a special item in the Special Commodities Tax Law. In 2015, the commercial tax rate was set at 15 percent for raw gem stones such as jade, rubies, sapphires, emeralds and […]

Entrepreneurs ask finance minister to reconsider special tax

Planning and Finance Minister U Kyaw Win received a barrage of requests to cut taxes during a meeting with a group of almost 50 business associations in Yangon earlier this week. The minister met with entrepreneurs at the Union of Myanmar Federation of Chambers of Commerce and Industry, to ask their opinions on economic development and learn […]

Myanmar jade market hit hard by halting of Chinese government loans

The Myanmar jade market has taken a huge hit as the Chinese government has stopped the provision of loans to Chinese jade traders, it is known from the market. “The [Chinese] government has pushed back the handing out of loans to [Chinese] jade buyers. Those big businessmen [Chinese jade buyers] have partnerships with [Chinese] banks. […]