Officials are predicting an increase in visitors and a glitzy showcase when the 5th Cambodia Gems and Jewelry Fair opens this Thursday in Phnom Penh.

Set in the Diamond Island Convention and Exhibition Centre, the four-day event is drawing buyers and traders to Phnom Penh amid a burst of energy in the country’s growing precious stones industry.

Kep Vutha, with the bureau of trade exhibitions in the Ministry of Commerce, said there will be a mix of local and international dealers. But the emphasis will be on Cambodia, whose companies account for 48 of the 78 signed up.

An official with the state promotion department who declined to be named said the event will provide a platform for local businesses.

“The Cambodian gem and jewellery fair is a high-standard event, and this one should be considered at an international standard,” the official said.

In recent years, Cambodia has tried to position itself as a player in the industry. Intertek, a London-based checker of rare gems, set up the country’s first laboratory in 2011 to help regulate the trade, and in March, construction on a diamond-polishing factory and training centre for luxury jewellery brand Tiffany & Co began in the Phnom Penh Special Economic Zone.