45 multinational companies, including 14 of the world's largest diamond trading firms with a total annual turnover of $ 13 billion, will take their offices in the Panama Gem & Jewelry Center in the coming days. Panama reported the completion of the construction of the first wing of the new building.
Among the main diamond resident companies of the center are such names as Kiran Gems, Diarough NV, Rosy Blue, Bhavani Gems, Interjewel, Jewelex, M. Suersh, the Niru Group, ILI Diamonds from A. Rachminov Group, Atit Diamonds from Shairu Gems, Dianco, Ofer Mizrahi Diamonds, S. Schnitzer Diamonds and S. SB Bichachi Diamonds Group. In addition, more than 30 diamond and jewelry companies from Israel, Belgium, India, the USA, Italy and Latin America will work in the Panamanian center.
"The Panamanian Center for Precious Stones and Jewelry, the new home of the Panamanian Diamond Exchange, is ready for operation and is put into operation according to the schedule. This is undoubtedly the newest and one of the most beautiful complexes for diamond and jewelery operations on the Earth, "said Eli Izhakoff, the founder of the stock exchange.
The Panamanian Diamond Exchange (PDE) project, funded by the Panamanian Center for Precious Stones and Jewelry worth $ 200 million, is the largest and most ambitious initiative ever undertaken in the interests of jewelry trade in Latin America. The center will serve as a trading platform for local and international companies on the market, which today is estimated at $ 8 billion and has 11,500 retail outlets in 20 countries and 23 islands.
The whole complex is located in the free zone Veygul (Vaguil Free Zone), which was created by the government of Panama in the interests of international jewelry trade. All operations conducted within the zone will be free of taxes and customs duties.