THE fourth gem and jade auction this year for foreign buyers is to be held from August 21-25 in Yangon.

The sale organised by Union of Myanmar Economic Holding Ltd follows a gem and jade emporium in July by the state-run Myanma Gems Enterprise, which an official said was the biggest jade sale in the country’s history.

Myanmar entrepreneurs have until August 10 to provide lots for the coming sale. One percent of foreign currency proceeds and 3pc of local currency earnings are to be paid to UMEHL, while a 0.4pc service charge will be levied.