The state-owned Myanmar Gems Enterprise has considered a number of foreign proposals for joint ventures in mining and jewelry manufacturing, but found them all unacceptable, says Col. Hlaing Win, MGE’s managing director.

“We have many proposals from many countries regarding mining and jewelry-making and marketing but so far we don’t accept them,” Col. Hlaing Win said in a recent interview in Bangkok. He gave no explanation for MGE’s decision, but quickly added that his country is strongly interested in new gem cuts and new designs, which Brazilian and Thai cutters have offered to help.

            Under Myanmar’s “open” policy begun in 1988, production share in joint ventures was set at 50-50, said Col. Win. In April of this year, the Myanmar government went further and declared 230 acres (92 hectares) in the areas of Mogok, Momeik, Mattaya and Thabeikyin open to the highest bid. Gem mining however remains restricted to Burmese and government-licensed gem dealers.

            Burmese gem dealers can either sell their low-to medium- quality stones locally or offer fine quality ones to the government, the colonel noted. “It’s a free market.”

The Myanmar Gems Enterprise, organizer of the annual invitations-only gems auction, deducts 10 percent commission for items put up by private Burmese, according to Col. Win, who oversees a staff of over 120. At last year’s auction held in February, sales of gemstones, pearls and jade topped 12 million U.S. dollars, up 4 million dollars from the previous year. Col. Win said he expected sales figures for the upcoming auction in February to reach 15 million dollars. No date has as yet been fixed, but the 400 visitors from Japan, Switzerland, the United States and 13 other countries will likely return to Rangoon for the annual emporium.