JNA September/October 2025 | 35 HUB 生产基地 manufacturing sectors than their neighbours Thailand and Vietnam, they also import much of their populace’s jewellery needs, notably gold pieces. Ermin Siow, advisor of the Federation of Goldsmiths & Jewellers Associations of Malaysia (FGJAM), identified these two countries along with China as alternative destinations for Malaysia’s gold jewellery products, especially since exports to their traditional markets of the Middle East and Singapore have been declining due to various factors. “Aside from Southeast Asia’s established jewellery hubs of Indonesia, Vietnam, Thailand and Singapore, I believe Laos and Cambodia are up-and-coming destinations. This is particularly true for companies that specialise in plain gold jewellery,” said Siow, who is also vice president of the ASEAN (Association of Southeast Asian Nations) Gems and Jewellery Trade Association or AGJA. Fawatthana Phoummasack, president of the Gold Jewelry and Gem Association Laos, agreed. Lao consumers gravitate towards 24-karat plain gold jewellery for investment purposes and special occasions, he noted. “Gold jewellery serves as a tangible asset that consumers can sell should they need funds. They understand and clearly see the value of the item,” he explained. While rising gold prices put a damper on sales, Lao consumers continue to purchase gold jewellery whenever they have money to spare. "Younger generations buy gold jewellery for investment purposes as well as personal adornment, while mature consumers purchase special sets for important occasions. High-net-worth individuals often buy gold bars to store their wealth,” Fawatthana said. Cambodia’s edge Apart from offering much promise as export destinations, Laos and Cambodia are seeking to boost their international jewellery shipments as well. Both countries manufacture silver jewellery for export but have distinct design styles and clienteles. In 2024, Cambodia’s gem and jewellery exports reached US$88 million, according to Phy Sarak, senior advisor of the Cambodian Gems and Jewelry Traders Association. Consisting of 1,025 Cambodian companies and 1,100 Vietnamese enterprises, the association organises the Cambodia International Gem & Jewellery Fair and provides tax incentives for its members. Cambodia’s production focuses on diamond jewellery, lab-grown diamond (LGD) jewellery as well as gold-plated and sterling silver pieces. Production facilities consist largely of workshops rather than full-fledged factories, with 70 per cent of output heading overseas. Sarak said Europe is the primary destination of Cambodian-made jewellery, followed by the Middle East and the US. “Our clients are mostly European jewellery brands that look for silver jewellery and, increasingly, LGD jewellery. They order from Cambodian companies then place their label on these collections and sell them at a premium, given the high quality of the craftsmanship,” he remarked. Cambodian workshops import coloured gemstones from Thailand or obtain these from local sources. Meanwhile, LGDs are brought in from Hong Kong, Thailand or India, Sarak shared. Finest Made Jewelry Co Ltd, for instance, manufactures coloured gemstone jewellery in silver for its clients from Gold chains by PT Untung Bersama Sejahtera PT Untung Bersama Sejahtera的金链产品 Antique Lao silver jewellery 老挝古董银饰
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