Chairman of the State Administration Council Prime Minister Senior General Min Aung Hlaing attended the opening ceremony of the Mid-Year Myanmar Gems Emporium 2023 at Maniyadana Jade Hall in Nay Pyi Taw yesterday morning.
The Senior General and attendees to the ceremony watched a video clip on sales of jade and gems at the gem emporiums, production of pearls and sales, production of jewellery items, and preparations to hold the emporium 2023.
In Maniyadana Jade Hall, the Senior General and party viewed displays of jade, gem and pearl lots to be sold at the mid-year emporium and the Senior General gave necessary guidance to officials.
They also viewed round private jewellery showrooms and displays of uncut jade lots displayed outside the hall.
Also present at the ceremony were Council Joint Secretary Lt-Gen Ye Win Oo and council members, Union ministers and Union-level officials, and local and foreign gems merchants.
The Myanmar Gems Emporiums have been held since 1964 for selling gems and jade to earn foreign exchange for the State and ensure economic development of citizens. The current emporium will put 300 lots of pearl, 160 lots of gems and 4,025 lots of jade on sale to local and foreign gem merchants through an open tender system under the prescribed rules and regulations. In selling pearl and gem lots, the floor prices were set in the US dollar, and foreign merchants can buy pearl and gem lots in the US dollar, euro, yuan and baht but local merchants can purchase them in Myanmar kyat. Jade lots were classified in three groups. Jade lots of A and B classes will be sold in foreign currency and C class is set for encouraging MSME businesspersons.
A total of 500 lots of jade in Class A were set floor price in US dollar, and not only foreign gem merchants but local merchants must buy these jade lots in US dollar, euro, yuan and baht.
A total of 1,733 lots of jade in Class B were set at floor price in US dollar. Foreign merchants have to buy them in foreign currencies and local merchants in Kyat or foreign currencies.
A total of 1,792 lots of jade in Class C were set at floor price in Kyat for encouraging MSME businesspersons, and only local gems merchants can buy them in Kyat for payment.
The current Mid-Year Myanmar Gems emporium lasts from 20 to 28 October. — MNA/TTA
