The United Arab Emirates (UAE) is a global leader in diamond imports and exports, but it does not have any diamond mines.
In 2022, he co-founded Dubai-based 2DOT4 Diamonds, becoming the first to produce, cut, and polish lab-grown diamonds in the UAE.
“The mined diamond, you don’t control it, the Earth is doing it.”To grow a diamond, you start with a diamond, either lab-grown or mined, explains Sabeg.
Last year, the country underwent a tax reform in the sector and pledged extra funding to further expand its man-made diamond industry.
“Sixty years ago, if you tell someone this is a synthetic or a lab-grown diamond, they won’t even look at it,” he adds.
Persons:
CNN —, Mohamed Sabeg, ”, ” Mohamed Sabeg, Paul Devitt, It’s, Everest —, CNN “, Paul Zimnisky, Ahmed Bin Sulayem, Bin Sulayem, “, Zimnisky
Organizations:
CNN, International Gem Society, United Arab Emirates, Dubai Multi Commodities Center, HRA
Locations:
Russia, South Africa, UAE, Dubai, 2DOT4, US, China, India, CNN India, Emirate