Central Bank Permits Import of 3.5 Tons of Gold

The State Bank of Viet Nam has just granted additional import quotas for 3.5 tons of gold in 2008 following proposals from many local gold traders, bringing the year’s total quota to 73.5 tons.

The Jewelry Company of the Bank for Agriculture and Rural Development of Viet Nam and the Saigon Thuong Tin Joint Stock Bank (Sacombank) is granted quotas for one ton each.

The Dong A Bank, the Phu Tho SJC Jewelry Company and the Doji Trade, Investment and Jewelry Company are permitted to import 500 kg each.

So far this year, Vietnamese businesses have imported more than 40 tones of gold, about 30 tons of which were imported by the Saigon Jewelry Company (SJC) alone, according to market figures.

By Ham Yen, translated by Van Thinh

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