The Embassy of Sri Lanka in Viet Nam organized a webinar on Gem and Jewelry sector of Sri Lanka and Viet Nam in collaboration with the National Gem and Jewelry Authority (NGJA), and the Viet Nam Association of Gemstones (VAG) on 27th July 2023.
The objective of the webinar was to educate both Sri Lankan and Vietnamese companies in the Gem & Jewelry sector about the nature of the respective industry of both countries and to identify areas of cooperation.
The Gem & Jewelry industry in Viet Nam is not yet developed as in Sri Lanka due to the absence of a regulatory authority. Thus, unorganized and unauthorized gem mining is carried out in small scale in a scattered way. Further, the jewelry industry is also not much developed. Thus, Viet Nam imports most of their jewelry from foreign countries, especially, Korea, Japan, Italy and France. In this context, there is great potential in introducing Sri Lanka’s gem & jewelry to Viet Nam market, as the latter already has a good recognition of Sri Lanka as a gem and jewelry sourcing destination.
Delivering his opening remarks, the Ambassador of Sri Lanka to Viet Nam, Prof. A. Saj U. Mendis explained how Sri Lanka has been famous for quality gems stones throughout the history and Sri Lanka’s current gem and jewelry trade with the World. As Viet Nam imports most of its gem & Jewelry from other countries, Ambassador invited Vietnamese traders to consider importing from Sri Lanka as they could get quality gems and jewelry at a competitive rate from Sri Lanka.
Mr. Viraj De Silva, Chairman & CEO, of National Gem & Jewelry Authority (NGJA) in his remarks elaborated on the new developments in the industry such as, ethical and responsible gem mining practices, use of cutting-edge technologies such as computer-aided design (CAD) and computer-aided manufacturing (CAM), focus on the transparency and traceability in the gem trade, and gemstone tourism.
Mr. Ngo The Hoc, the Vice President, and General Secretary of the Viet Nam Association for Gemstones (VAG) presented on the evolution of the Gems and Jewelry’s Industry in Viet Nam and its present status. One of the new developments in the industry is using small crushed gemstones for paintings. Dr. Hoang The Ngu, President of VAG explained the possible areas of cooperation between the two countries while Mr. Tran Anh Tuan – President of the Gemstones Group of Ho Chi Minh city, expressed his willingness to cooperate with Sri Lanka in this industry.
The investment opportunities in the Gem & Jewelry industry and the services offered by National Gem & Jewelry Authority for the traders was presented by Ms. Ayoma Dias, Assistant Director, Export Services and Export Marketing, of National Gem & Jewelry Authority, while Dr. Gamini Zoysa, Consultant Gemologist and Director, International Coloured Gemstones briefed about the gem mining methods and the gem stones available in Sri Lanka.
The Webinar concluded with the Q&A session was attended eagerly by both sides. Ms. Kishani Wickramasinghe, Minister (Commercial) briefed about the expectations for future collaborations in terms of entering into an MOU and an Action Plan by the two parties, which is to be signed in their visit to Sri Lanka in FACETS 2024 in January 2024 in Sri Lanka, arranging B2B meetings, exchanging delegations between the two countries and participation to trade fairs of each country.
The webinar was received with extreme enthusiasm and interest from the Vietnamese participants and they were highly satisfied and eager to cooperate with Sri Lanka in future, which is a positive sign for exploring this untapped area of potential trade.
