Thailand has solidified its status as a primary hub for colored gemstones, boasting a rich legacy rooted in its abundant ruby and sapphire deposits. Situated strategically amidst gem-rich nations like Myanmar, Cambodia, and Vietnam, Thailand has cultivated multigenerational expertise in mining, treatment, cutting, polishing, and trading within its gem industry.
The historical turmoil in Myanmar, commencing with the Japanese invasion in 1942 and later intensified by a government-driven nationalization wave, prompted an exodus of ruby merchants and miners to Thailand. This migration significantly enriched Thailand’s gem industry, including the family of fifth-generation gem merchant Santpal Sinchawla, managing director of Sant Enterprises.
Santpal reflects on his family’s move, stating, “My maternal grandparents owned ruby mines in [Myanmar mining area] Mogok, and had dealings with many French firms. Ruby deposits had been discovered in Thailand, and since my mother had good connections in the business, Thailand — and specifically Bangkok — was the logical choice for our family’s new base.”
Beyond geographical advantage, Thailand’s ascent as a colored-stone hub can be attributed to its groundbreaking development of heat treatment techniques. This innovation has enabled the transformation of low-grade sapphires and rubies into high-quality gemstones, reinforcing Thailand’s position in the global market.
The Gem and Jewelry Institute of Thailand (GIT) emphasizes the country’s expertise in gem-cutting and enhancement techniques, passed down through generations. Sumed Prasongpongchai, GIT’s director, notes, “This expertise has been passed down through generations, contributing to our competitive edge on a global scale.”
Thailand’s gem-cutting industry, comprised mainly of medium and small-scale enterprises, employs around 10,000 workers. In 2022, the country exported 5,208 kilograms of polished precious stones, witnessing a notable surge to 7,972 kilograms in the first ten months of 2023. Bangkok, particularly, handles a significant portion of the world’s rubies for treatment, cutting, and polishing, according to Philippe Ressigeac, founder and COO of GemCloud.
However, establishing a gem-cutting facility in Bangkok faces challenges, primarily the scarcity of skilled labor. The industry is grappling with a downturn, attributed in part to lower wages and outdated equipment. Despite these obstacles, there’s optimism for a potential transformation by adopting modern machines, leading to higher-quality cuts and increased earnings for cutters.
Bangkok’s future as a gemstone hub looks promising due to its consistent supply of rough stones. Gemfields and Fura Gems are among the mining companies holding auctions in Bangkok, emphasizing its well-developed infrastructure and strategic location for clients.
François Garaude, founder of Garaude, acknowledges Bangkok’s appeal, citing its diverse supply and convenience for institutional buyers. He states, “Untreated rough, traceable to a mine that has been audited, fulfilling all international standards, is only found in a large-scale mining company, and they are all coming to Bangkok, which makes it very convenient for us to source.”
The city’s allure extends beyond business, as entrepreneurs appreciate Bangkok’s supportive environment, affordable lifestyle, and diverse cultural offerings, ensuring its continued prominence in the global colored-stone trade.
