The State Bank of Vietnam issued Circular 11 banning Vietnamese and foreigners from taking gold bars and raw gold in and out of the country.
|Vietnamese and foreigners are banned from taking gold bars in and out of the country from May 15, 2014. The photo shows gold bar trading at a shop in HCMC (Photo: SGGP)|
Foreigners must go through customs clearance procedures and pay fines if they enter the country with the items.
Anyone entering or leaving the country can bring jewelry but must declare if they have over 300 grams.
The ban will take effect starting May 15.
The old regulation permitted anyone to travel with gold bars freely. They only needed a customs clearance if the jewelry volume is higher than 300 grams.