PM orders enhanced measures to control gold market
The State Bank of Vietnam (SBV) must join hands with competent agencies to fully and effectively implement timely measures to stabilise the gold market under a recent dispatch by Prime Minister Pham Minh Chinh.
PM Pham Minh Chinh has ordered the State Bank of Vietnam to carry out measures to stabilise the gold market. Illustrative image (Photo: dangcongsan.vn)
Hanoi (VNA) – The State Bank of Vietnam (SBV) must join handswith competent agencies to fully and effectively implement timely measures tostabilise the gold market under a recent dispatch by Prime Minister PhamMinh Chinh.
The Government has repeatedly requested the central bank to keep aclose watch on the global and domestic gold prices so as to control the marketas its recent complicated developments have had anegative impact on the monetary market and market sentiment.
Relevantsides are ordered to carry out comprehensive evaluation and meticulous analysisand take effective and timely measures which are in line with currentregulations and market principles to handle the substantial gap between domesticand global gold bar prices. The move aims at preventing the "goldernisation" inthe domestic economy as well as negative influence on the foreign exchange marketand national financial and monetary safety and security.
The bank must work to complete legal framework, mechanisms, and policiesrelated to gold market management and business activities, while recommendingcompetent authorities to consider amendment and supplement to existingregulations to improve the efficiency of the state management tools. It is also asked to report the progress to the Prime Minister before March 22.
Furthermore, it is ordered to conduct inspections at gold tradinginstitutions, timely detect loopholes, and have suitable settlement.
Communicationswork must be given due attention so as to provide the public with official informationas well as policies related to the management of the financial, monetary, foreignexchange and gold markets, helping stabilise the public sentiment.
The Ministry of Public Security is ordered to work closely with the SBV andcompetent agencies to mete out strict punishment to any violations, especiallygold smuggling, speculation and manipulation that cause instability to themarket./.
The State does not encourage the trading of gold bars, protect their prices, nor accept too large differences between domestic and global gold prices, and between SJC and other types of gold bars, said Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu.
The World Gold Council’s Gold Demand Trends report reveals that annual gold demand (excluding over-the-counter) fell to 4,448 tonnes in 2023, down just 5% from a notably strong 2022.
Domestic gold prices increased on March 7 morning to a new record at 81.25 VND (3,290 USD) million per tael (one tael is equivalent to 1.33 ounces) for SJC gold bars and 68,8 million VND for gold rings, after global prices hit an all-time high of 2,152.09 USD per ounce a day earlier.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
PM Pham Minh Chinh has ordered the State Bank of Vietnam to carry out measures to stabilise the gold market. Illustrative image (Photo: dangcongsan.vn) 
