MGE announces expiry of 12 gem trading licences in May

A total of 12 gem trading licences are due to expire in May 2024, Myanma Gems Enterprise notified.
Under the approval of the Ministry of Natural Resources and Environmental Conservation, those holding licences (gems and jewellery trading licence, manufacturing licence for finished gems and carvings and rough gemstone and finished products trading licence) issued by the Myanma Gems Enterprises need to proceed to the renewal process three months before the expiry date. They must renew them at least one month before the expiry.
Additionally, they can inform Myanma Gems Enterprise of winding down a business with one month’s notice prior to ceasing the operation.
Moreover, Myanma Gems Enterprise gave the green light to the renewal of the expired gem trading licence in the past three years with a three-year fine until 31 March 2024 in accordance with rules and bylaws stipulated by Myanmar Gemstone Law, under the approval of the Ministry of Natural Resources and Environmental Conservation.
Those who want to resume business are notified to proceed to the renewal procedure at the departments concerned of Myanma Gems Enterprise within office hours.
Nonetheless, only those holding a licence with a two-year expiry can be reinstated with the set penalty starting from 1 April 2024. Those licences that expire more than two years at that time will get cancelled, as per the notification.
Licence renewal applications can be processed at Myanma Gems Enterprise (Nay Pyi Taw), Gems and Jewellery Museum in Yangon, Mandalay branch, mining departments in Mogok, Lonkhin/Phakant, Mongshu, and Myitkyina branch, in line with the rules and regulations. — NN/EM