Myanmar Currency Will be Used in Amarapura Gem Market
Gem market where gems born of jade can be sold in Kyats by auction is being built at 361 mile between Sin village and Myinmu village in Amarapura Township and construction will have been completed on August 2013, according to U Soe Naing of Aye Aye Khing Company, which is implementing this construction.
“It is Chinese people who have fully benefited from the jade market, not our Myanmar citizens. If we deal in jade in Kyats, people at domestic will enjoy job opportunities. That’s why we’ve implemented this market,” he said.
Corporate body including Tatlam Co, Ltd, YadanaMyine Co, Ltd,Tawin Myanmar Co, Ltd, Aung Kaung Kyaw Co, Ltd and Aye Aye Khing Co, Ltd has planned to include more than 400 buildings for jade stamping- grounds, auction markets and gem companies and it managed to have this market completed within 8 months.
It is learnt that people here will soon participate in the jade market as jade and related gems are to be dealt in just in Kyats just at home after construction has been completed although the existing jade market has to depend on Chinese market.
“The 30,000 tons of jade utilitarian are produced within one year. The production amount a month is the 2500 tons and the 83 tons a day. One ten is equal to 1,000 Kg. The production of one kg jade which converts into ornaments such as beads, carvings needs five workers. So this market will fulfill the need of employment at home,” said one of the investors of this market.
Gem fair held on December 2012 has given birth to a total of $ 26 million profit, according to source of Aye Aye Khing Co, Ltd, which participated in exhibition.