Jade market planned for Muse economic zone within six months

Mandalay – Muse Central Economic Zone Project Director U Ngwe Soe says arrangements are being made to build a jade market in the Muse economic zone within six months.

The director told Mizzima October 23 that the aim is to create a market for local gem merchants to sell jade, gems and Ingyin fossils without them having to go to China, where the markets typically operate.

U Ngwe Soe explained that currently Myanmar’s jade market is located in China. “Although Myanmar produces jade, gems and Ingyin fossils, we go to China using legal or illegal routes to sell products due to lack of facilities here at home. Now we plan to build a jade market in Muse so as to attract Chinese gems merchants.”

He said that setting up the market would help local jade and gems traders.

Lower House MP U Sai Bo Aung of Muse Township explained that Muse is located on the export route of jade stones to China. Myanmar does not enjoy the full profit in extracting jade stones but China exploits the benefit.

He said he hoped the project would develop into a jade trading city like Ruili over the border in China, adding that only then will Myanmar enjoy the full of benefits of the jade industry.

The regional development committee of the Shan State Government and the New Star Light Construction Company have been constructing the Muse Central Economic Zone Project since 2012. The project will consist of 18 buildings including the jade market.


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