MOSCOW, September 27. /TASS/. Sales of investment diamonds have already increased more than sixfold since the beginning of 2023, Dmitry Amelkin, head of Strategic Development at Alrosa told TASS ahead of the Moscow Financial Forum.
According to him, Alrosa sees a steady trend in the growing popularity of investment diamonds in Russia after the abolition of VAT on the purchase of diamonds by individuals from banks.
"If last year sales of investment diamonds tripled, then this year they have already increased more than six times. A year later, we see a steady trend indicating the growing popularity of new assets," he said.
In 2022, Alrosa predicted demand for investment diamonds in 2023 in the amount of about $200 million.
According to Amelkin, the limiting factor for the growth of interest in investing in precious stones is the high entry threshold.
"The limiting factor for now is the fairly high entry threshold - $20,000, but we are considering options to reduce it," he noted.
The company is discussing the creation of more complex investment instruments in the form of mutual funds or digital assets for diamonds.
About forum
The Moscow Financial Forum will take place on September 28 at the Manezh Central Exhibition Hall. The event is sponsored by the Finance Ministry and the Moscow government.
The main theme of the forum is "In search of a new balance: the Russian financial and economic system during worldwide transformation."