The gem trading licence will be revoked unless it is renewed, according to Myanma Gems Enterprise — MGE (Nay Pyi Taw) under the Ministry of Natural Resources and Environmental Conservation.
Myanma Gems Enterprise (Nay Pyi Taw) released a notification on 14 July 2023 to extend licences for gems and jewellery trading licences, manufacturing licences for finished gems and carvings and rough gemstone and finished products trading licences.
As per the notification, those holding available licences need to proceed to the renewal process three months before the expiry date. They must renew them at least one month before the expiry.
Also, they can notify Myanma Gems Enterprise of winding down a business with one-month notice before ceasing the operation.
Licence renewal applications can be processed at Myanma Gems Enterprise (Nay Pyi Taw), Gems and Jewellery Museum in Yangon, Mandalay Station, mining departments in Mogok, Lonkhin/Phakant, Mongshu and Myitkyina areas, in line with the rules and regulations. The licence will get revoked unless it is renewed. Those businesspersons holding expired licences in 2020 and 2021 are urged to reinstate them with the relevant departments at the soonest.
Those who want to terminate the business are also notified of the aforementioned departments one month in advance. They must also present a cash memo to those departments at least one month before the expiry date, Myanma Gems Enterprise notified. — NN/EM
