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Famous hotel in Myanmar to add gem show as attraction

One of Myanmar's famous hotel in Yangon -- the Kandawgyi Palace Hotel, will add an all-year-round gem show to display Myanmar's quality gems to attract more visitors to the country as part of its bid to boost both the gem industry and he tourism industry, sources with the hotel said on Wednesday.

With 60 show rooms, the gem show, which is the first of its kind attached with a foreign-invested hotel, will open early next year, the sources said, adding that gem-related training will also be conducted.

Myanmar has been holding gem shows annually since 1964, introducing mid-year one in 1992 and special one in 2004.

These shows are traditionally launched at the Myanmar Gems Museum and the Myanmar Convention Center in Yangon.

On each occasion, the country's quality gems, jade, pearl and jewelry worth of millions of dollars were put on sale mainly through competitive bidding.

In the last 18th mid-year gems emporium held in Yangon for 13 days from Oct. 25 to Nov. 6, a total of 8,140 jade lots, 223 gems and jewelry lots and 270 pearl lots were displayed, attracting about 2,000 foreign gem merchants.

A total of 96.46 million euros (120.5 million U.S. dollars) were earned from the emporium.

Myanmar, a well-known producer of gems in the world, boasts ruby, diamond, cat's eye, emerald, topaz, pearl, sapphire, coral and a variety of garnet tinged with yellow.

The authorities designated the proceeds from the sale of gems at these emporiums as legal export earning to encourage the private sector in the development of the gem industry.