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Vietnam's gold market to become more competitive as government's monopoly ends
From Vietnam News Agency, Hanoi
Friday, June 13, 2025
HANOI -- Vietnam's gold market is poised for significant reform, as eligible banks and enterprises will soon be permitted to import raw gold and produce bullion -- a move expected to invigorate the sector with increased competition and more brands.
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Dao Xuan Tuan, director of the State Bank of Vietnam's Foreign Exchange Management Department, said the bank is finalizing a draft government decree that amends Decree 24/2012/ND-CP, aimed at gradually liberalizing the gold bullion market while ensuring stringent regulatory oversight.
A key proposal in the draft is to allow eligible banks and enterprises to import raw gold and produce bullion -- a function that, until now, has been exclusively assigned to a single entity. ...
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