Nay Win Tun
Birth: 7 May 1960
Source of wealth: Ruby Dragon Group of Companies
Address: No. 39/A, 7 ½ Miles, Pyay Rd, Mayangone Tsp, YANGON
Business: Mining, Gems and Jewelry, Steel Manufacturing, Construction, Trading
Nay Win Tun started Ruby Dragon with 30 employees in 1992. He also invests in material manufacturing, hospitality services and wineries. His Ruby Dragon is one of the leading companies in Myanmar’s gem mining industry.
“As the government opens up, social and economic development and investment opportunities will rise. Local businesses will benefit from new technology and expertise, as well as strategic partnerships with neighboring countries.”
Nay Win Tun was born in Taunggyi, Shan State to parents Ba Swe and Nan Thae Shwe (both now deceased). Nay Win Tun is also known as Nay Win Swe. Although he did not graduate high school, he has managed to succeed as a tycoon in business and industry.
Before founding Ruby Dragon, he worked in various jobs including in fruit sales, as a bus assistant, gardener, construction worker and textile trader. Nay Win Tun is founder and chairman of Ruby Dragon. He is married to Aye Aye Myint (who is a director of Ruby Dragon) and their children, Kaung Myat Thu, Myint Myat Thu, Ye’ Myat Thu and Min Myat Thu, also working for the company.
Nay Win Tun established Ruby Dragon with the vision of becoming a successful and sustainable business out of nothing, while experiencing the hardships brought about by sanctions. Initial mining operations started with the exploration and extraction of rubies in Sai Lian Mine, Mong Hsu Township, Shan State. Ruby Dragon expanded into jade mining in Hpakant in 1995 and became a limited company in the same year. The company further expanded its ruby-mining operations to the Mogok area in 1996. These two successful gemstone-mining operations demonstrated that Ruby Dragon was sufficiently established to expand into other sectors.
Ruby Dragon established its first gold mine in 1999, followed by antimony mining in 2002. Today, mining is still the core business of the Ruby Dragon Group. The news resources said that the Ruby Dragon Group had donated a massive slab of jade, weighing more than 3,000 tons, to the ruling junta in the early 2,000s. The high quality jade was more than 70-feet high by 16-feet wide.
Moreover, in 2006, Dragon Cement was also established to answer the needs of increased demand for building materials. The Dragon Cement Factory produces about 800 tons of cement per day under two production lines.
Ruby Dragon has also moved successfully into other industries, including hospitality and wineries. The group established Red Mountain Estate winery in Shan State in 2003. In 2012, with the completion of the Jade Marina Resort & Spa project, the company firmly established itself in the real estate sector. Expansion in this area followed with the opening of the Thurizza (Naypyitaw) hotel in 2013, its second hotel, the Thurizza (Bagan) and Pyay Tower and Residence (Yangon) in 2014. Starting from a company with mere 30 employees, it has grown into an established group with more than 4,500 employees. Its divisions have been operating in 13 out of 14 states and regions in Myanmar and Nay Win Htun also owns businesses in neighbouring countries such as Thailand, Singapore and China.
Later, he created the Ruby Dragon Foundation to support small businesses financially and in other aspects, such as helping them in registration of the company and to have access to the necessary experts. The vision of the foundation is to give small businesses a head start and to promote regional economic development. The foundation also transfers the know-hows of mined mineral to the local people and creates better job opportunities for them.
On the other hand, the Ruby Dragon Group has subsidised electricity supplies in local communities and regularly donates to educational and social causes. The group has also developed the infrastructure of village areas such as roads and bridges to increase the mobility in the areas, which then leads to better access and changes that directly benefits the substantial development of these communities. To date, the Ruby Dragon Group of Companies’ donations can be amounted to approximately 10 million USD.
Nay Win Tun is the right hand man of Aung Kham Hti, the leader of the Pa-O ethnic group which signed a ceasefire in 1991, and he participated in the 2011 election as the representative for Pa-O National Organization (PNO). Then he was elected as a parliamentary representative of Constituency 9, Shan State. During his service, he travelled as a representative of Myanmar to Singapore, Hong Kong, Cambodia, Russia, Malaysia, India, South Korea, Sri Lanka, China, Vietnam, New Zealand, Mongolia and Thailand.
Nay Win Tun also serves as the President of Myanmar-Vietnam Friendship Association and the member of Mineral Resource and Environmental Conservation Committee, first regular session of Parliament. He was bestowed the honor of “Thiri Thudhamamani Zawtadhaya” for his activities in religious affairs.