HCMC proposes to establish state-run gold exchanges

The HCMC People’s Committee has proposed the State Bank of Vietnam to study building state-run physical gold exchanges and trading centers to mobilize gold from citizens for socioeconomic development.

The man buying gold bullions at an SJC shop in HCMC (Photo: SGGP)

The committee has also proposed the Ministry of Finance and the Ministry of Industry and Trade to specify regulations on legal documents for gold/jewelry purchased from customers.

In addition, the city has suggested the central bank to permit credit institutions to provide loans in the Vietnamese dong for businesses making gold jewelry and fine arts.

The bank should intensify inspecting and handling gold import violations from border gates, it said.

By Nhung Nguyen – Translated by Hai Mien

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