Chairman, Imam Gems (Pvt.) Ltd, Beruwela, M. F. M. Faris has done Sri Lanka proud by becoming the only Sri Lankan entrepreneur to be recognized and awarded at the Gem and Jewelry Industry category at the prestigious US based Business World International Organization (BWIO) Awards Ceremony in Kuala Lumpur (KL) Malaysia.
Faris was nominated as the ‘Sri Lankan Businessman of the Year,’ at the Gem and Jewelry Large Platinum category at this event, where Prime Minister of Malaysia Mahathir Mohamed also attended.
There were over 60 awards presented at this awards ceremony for successful enterprises from throughout the world, representing various industries, while Imam Gems (Pvt.) Ltd., was the only Gem Exporter to be awarded.
Faris said that the family owned Imam Gems (Pvt.) Ltd, at Ltd at China Fort was set up 15 years ago, mainly to offer a better price for gem miners who come from the Sabaragamuwa Province to sell their stones to Beruwela. “I offered them the best prices and ensured that they did not receive a raw deal.”
The Chairman said that they specialize in exporters of heated Blue Sapphire Gem stones for the international market. “After we purchase Blue Sapphires, our skilled staff do our own value addition (heating) in our laboratory in Beruwela and export them to USA, France, Spain, India and Indonesia.’’
He said that it was one of their regular buyers dealing with them for over a decade in USA that requested our Director, F. Imam Faris, based in USA, to apply for this award. “After we applied for the award, the Organizers visited us and did a comprehensive check on our operations and nominated Imam Gems (Pvt.) Ltd., for this award.”
Asked to comment on their future plans, he said that they are planning to open a sales outlet in Bangkok soon. “We would also be participating in more international exhibitions, to find new buyers.”
He said they still prefer to work the traditional way which is built on trust from the point of purchasing a rough blue sapphire, treating it and marketing it internationally. “We still prefer direct ‘see, examine, buy and pay’ deal rather than doing it online.
He said that the Gem & Jewelry Industry is a major forex earner to Sri Lanka and the Government must look at offering some tax concessions to the exporters.
“This is a rare honour to Sri Lanka, as the international publicity and honour Imam Gems (Pvt.) Ltd., received at this award ceremony, would help consolidate Sri Lanka as a quality destination for value added gem exports,” an official from the National Gem & Jewelry Authority said.
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