The Gemopolis Free Zone Complex has opened in the Gemopolis Industrial Estate in Thailand.
Gemopolis, an industrial estate for diamond, gemstone and jewellery manufacturing and trading, was established in 1990 and is today home to 120 companies from 24 countries employing over 20,000 staff.
The new Gemopolis Free Zone Complex will offer companies more “priviliges” than available in the existing zone.
For example in the general zone investors must be a manufacturer in order to obtain a promotion license from the Thai Board of Investment however in the Free Zone, commercial, trading or even promotional activities (eg, showrooms, laboratories, logistics and distribution centres) are also permitted.
Gems and jewellery is the third largest industry in terms of export for Thailand.
In 2008, Thailand export gems and jewellery goods with a total value of US$8,270.35 million an increase of 48.04 percent compared to 2007 and 157.91 percent compared to 2004.
As of June this year, the industry export value totals US$5,2360.63 million, an increase of 42.77 percent compared to the same period last year.