Israel Diamond Exchange (IDE) is helping local Diamond industry set up a new state-of-art diamond manufacturing facility in Ramat Gan. The facility will serve as a training center for Israeli diamond polishers. IDE is hoping that the new facility will help the local trade by attracting more buyers, polishers, brokers, gemologists and dealers to Israel.
Yoram Dvash was selected as chairman of IDE’s Industry Committee. He is also the head of industry committees at the Israel Diamond Manufacturer Association and the Israel Diamond Institute – the other two diamond industry associations in Israel. Having a single person at the head of the three committees has given advantage to Yoram Dvash to spearhead the setup of manufacturing facility, which will provide access to technology at discounted prices.
The facility will have Galaxy rough mapping system by Sarine Technologies and the company will provide a 5 to 15 percent discount on its usage fees. Demand for the new facility is high and IDE has received over 95 requests for the 75 available spots.
Israel Diamond Bourse has expanded its trading hall to include 74 places near the Maccabi Bridge entrance to the bourse trading hall. The additional space will help accommodate more diamond buyers and sellers during occasions like International Diamond Weeks.
In recent years, Israel had lost some of its lustre in Diamond trading to new centres like Dubai. Efforts like these clearly indicate Israel’s vigor and commitment to get back its gleam.