A PRIVATE Myanmar company is negotiating with the state-owned Myanma Pearl Enterprise to begin joint production of cultured pearls in Tanintharyi Division, a senior government official told Myanmar Times last week.

After the deal has been finalised, the Padamyar Yaung Chi company will invest US$1 million in producing cultured pearl within four years, said U Sein Lwin, the general manager of the enterprise.

The money will be spent on equipment, labour and other facilities, he said.
U Sein Lwin said the company’s proposed pearl farm will be located at Small Mali Island, which is 15 nautical miles (9.3 kilometres) from Mali Island where the enterprise already operates a pearl farm.

“The company will start oyster breeding operations in 2006,” he said.

Padamyar Yaung Chi will be the sixth pearl-producing company to start a joint venture with the enterprise, said U Sein Lwin.

Two Myanmar companies and three foreign companies are already producing cultured pearls in Myanmar in cooperation with Myanma Pearl Enterprise.