There are plans to construct a gems market in Sagaing, according to U Aung Gyi, chairman of the Sagaing Regional Gems and Jewelry Entrepreneurs Association (GJEA).
The current gems trading center in Sagaing is not a legal one, so the regional government is losing tax. “If an official gems market can be opened, the regional government will accumulate more tax which can be used for regional development tasks. Therefore, arrangements are being made to construct a new and legitimate gems market,” said U Aung Gyi.
Although the Sagaing Region GJEA tried to construct a gems market during the previous government’s tenure, it did not materialize. The GJEA has met with the regional chief minister and has requested a location for the construction of the new market. However, there has been no official reply from the regional chief minister yet, according to the association.
“When a gems market is established, it will not only help the regional government acquire foreign income but also create job opportunities for locals. So the proposal was submitted to the Amyotha Hluttaw, Pyithu Hluttaw and Regional Hluttaw more than four months ago. However, there has been no reply, so we have submitted the proposal a second time,” he added.
At Sagaing’s gems trading center, there are over 200 shops. More than 2000 merchants from China visit Sagaing during the peak gem trading season.