Over 450 gem trading licences to expire in April

A total of 458 gem trading licences are due to expire in April 2024, Myanma Gems Enterprise notified.
Under the approval of the Ministry of Natural Resources and Environmental Conservation, those holding available licences (gems and jewellery trading licence, manufacturing licence for jewellery items and figurines and rough gemstone and finished products trading licence) issued by Myanma Gems Enterprise 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 before 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, following rules and bylaws stipulated by the Myanmar Gemstone Law, under the approval of the Ministry of Natural Resources and Environmental Conservation.
Gem merchants mostly have chances to showcase gems and jewellery items at Myanmar Gems Emporiums and Mid-year Gems Emporiums. Last emporium was held in October 2023. The first ever gems emporium was held in 1964. Those emporiums aim to earn foreign exchanges not only for business persons but for the government.
Licence renewal applications can be processed at Myanma Gems Enterprise (Nay Pyi Taw), Gems Museum, Yangon Mandalay Office, mining departments in Mogok, Lonkhin/Phakant, Mongshu and Myitkyina areas, in line with the rules and regulations. — NN/EM