Myanmar Gems Enterprise (MGE)Organization

Designations

• Designated by UK HM Treasury (OFSI) under program Myanmar since 2021-05-17. Other entities under Myanmar

Source remarks: MYA0024 — The Myanmar military seized power from civilian leaders on 1 February in a coup d’état and established a military junta. Since then all state institutions have come under the control of the State Administration Council (SAC), who oversee the governance and expenditure of ministries. The SAC/military junta undermines democracy and, together with the Myanmar Security Forces, is responsible for the repression of the civilian population. Myanmar Gems Enterprise is a state-owned enterprise which operates under the Ministry of Natural Resources and Environmental Conservation (MONREC) and provides funding directly to the Ministry of Planning and Finance (MOPF). There are reasonable grounds to suspect that MGE, is under the control of, and/or is associated with, the SAC via its subservient relationship with MONREC; Further or alternatively, there are reasonable grounds to suspect that MGE makes available funds or economic resources, to the SAC/military junta that could contribute to undermining democracy and repressing the civilian population. Further or alternatively MGE is also associated with the military through its joint venture partnerships and close links to military companies, for which it grants favourable mining rights and permits. MGE also runs and controls gems emporiums, which are attended by and benefit the military and their companies. (official source)

Key properties

Addresses

Source list & list version

Last confirmed present in UK OFSI Consolidated List of Financial Sanctions Targets list version gb_hmt_ofsi@2026-06-03, observed 2026-06-03.

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