Business

Vietnam weighs establishment of gold exchange to ensure market stability

The proposed trading floor is a coordinated policy step to complete market infrastructure and regulations, aiming to unlock gold reserves held by Vietnamese households, enhance transaction transparency, and strengthen the State’s management of the market.

Vietnam is considering the establishment of a gold exchange to ensure market stability. (Photo: VNA)
Vietnam is considering the establishment of a gold exchange to ensure market stability. (Photo: VNA)

Hanoi (VNA) – The State Bank of Vietnam (SBV) held a seminar in Hanoi on October 15 to discuss the establishment of a gold exchange.

SBV Deputy Governor Pham Tien Dung presided over the event, which brought together market experts and industry stakeholders to share information, experience, and policy recommendations regarding the formation of the trading floor. Dung said this is an important step to develop a legal framework and an operating mechanism for ensuring the pilot phase is carried out cautiously, safely, transparently, and effectively, contributing to the stabilisation of the gold market and the macro-economy as a whole.
Dung noted that the gold market has undergone significant transformation over years, with the central bank’s issuance of various decrees to manage gold trading activities since 2012, contributing to macroeconomic stability. The SBV’s latest circular, promulgated on October 9, provides an important legal foundation for gold import, production, and domestic trading.

The Deputy Governor described the proposed trading floor as a coordinated policy step to complete market infrastructure and regulations as directed by the Party General Secretary and the Prime Minister, aiming to unlock gold reserves held by Vietnamese households, enhance transaction transparency, and strengthen the State’s management of the market. Additionally, the gold exchange will provide transparent data for analysis, forecast, and policy making. When integrated and processed in a timely manner, the data will serve as a valuable supplementary source of information for monetary policy governance.

sv1.jpg
The seminar held in Hanoi on October 15 to discuss the establishment of a gold exchange (Photo: VNA)

The central bank will report to the Government on the piloting of the gold exchange this month, Dung added.

Director of the SBV Foreign Exchange Management Department Dao Xuan Tuan noted that establishing a state-managed gold exchange aligns with the reality, as well as the current legal regulations and high-ranking leaders’ directives. He outlined an implementation roadmap beginning with physical gold trading focused on distributing imported gold that meets quality standards. Subsequent phases will introduce gold account products and derivatives designed to transform gold holdings into productive capital for business and investment.

There are three models under consideration – a national gold exchange, gold transaction through the Mercantile Exchange of Vietnam, and building of a gold exchange within the international financial centre.

The piloting of the gold exchange is expected to unfold in three phases, with timelines and details to be adjusted according to real-world developments. During the pilot stage, Vietnam’s gold exchange will not be linked to international platforms./.

VNA
#gold exchange #market stability #State Bank of Vietnam #gold market
Follow VietnamPlus

Vietnam - New era

Related News

Gold for sales at a shop in Hanoi. (Photo: VNA)

Ministry proposes tax on gold bullion transactions

In practice, gold bullion is mainly used for hoarding or short-term speculation. Therefore, taxing these transactions is necessary to enhance transparency, curb speculative trading and contribute to State budget revenue.

Illustrative image (Source: VNA)

Export tariff on gold jewellery cut to 0% from October 10

The export tax rate on jewellery and jewellery parts made of silver, whether coated or not coated or plated with other precious metals, and jewellery and jewellery parts made of base metals coated with precious metals remains unchanged at 0%.

See more

Cat Lo Fishing Port in Phuoc Thang ward, Ho Chi Minh City. (Photo: VNA)

HCM City earmarks over 2.54 million USD for fisheries transition

The project targets the conversion of around 6% of the city’s fishing fleet, focusing on nearshore and inshore vessels and part of the offshore trawler fleet, towards fishing methods with lower environmental impact, including hook-and-line, gillnets, purse seines, traps and cages, as well as fisheries logistics services.

LS Eco Energy factory (Photo: Iscns.co.kr)

RoK company expands rare earth metal production in Vietnam

LS Eco Energy, a company specialising in renewable energy and rare earth elements under the Republic of Korea (RoK)'s LS Cable & System, has approved a plan to expand its rare earth metal business in Vietnam, in a bid to seek long-term growth in the strategic materials sector.

Prime Minister Pham Minh Chinh speaks at the fourth meeting of the Central Steering Committee for Housing Policy and Real Estate Market on December 17. (Photo: VNA)

PM calls for stronger efforts to meet housing demand, ensure people's right to housing

PM Chinh noted that the real estate and housing market showed positive changes in 2025. With the engagement of the entire political system and society, Vietnam completed the elimination of temporary and dilapidated housing nationwide with more than 334,000 units, five years ahead of schedule. Nonetheless, continued efforts are needed to ensure no one is left without shelter.

Officers of the Hon Gai port border gate guard station coordinate inspections and handle vessels engaged in illegal fishing activities in Ha Long Bay. (Photo: Quang Ninh Newspaper)

Quang Ninh province strengthens fishing vessel controls

In the coming period, Quang Ninh will continue to implement government and ministerial directives on combating IUU fishing, contributing to efforts to meet the EC’s recommendations and move toward the lifting of the yellow card warning against Vietnam’s seafood exports.

The draft is designed to implement a plan to simplify business regulations for banks, in line with the Government's Resolution No. 66/NQ-CP. (Photo: VNA)

SBV plans to simplify business regulations for banks

Under a draft circular to replace Circular 32/2024/TT-NHNN, now open for public comment, many administrative procedures for establishing and relocating commercial bank branches and transaction offices will be significantly shortened.

Illustrative image (Photo: VNA)

Vietnam consolidates position as one of Asia’s economic bright spots

Next year, Vietnam is expected not only to maintain a high growth rate relative to the region but also to further reinforce its status as one of Asia’s economic bright spots thanks to macroeconomic stability, a dynamic domestic market, and a clear orientation towards attracting strategic investments.

Many vessels have installed additional vessel monitoring systems to ensure uninterrupted information connectivity with shore-based stations during fishing trips. (Photo: VNA)

Decisive moment of fight against IUU fishing violations

Under the close direction of the Prime Minister, coastal localities nationwide, particularly in central Vietnam, are urgently implementing assigned tasks with clear schedules and milestones, delivering tangible weekly progress.

Prime Minister Pham Minh Chinh speaks at the 26th meeting of the National Steering Committee for Combating Illegal, Unreported and Unregulated (IUU) Fishing. (Photo: VNA)

Local leaders must be held accountable for IUU fishing violations: PM

PM Chinh requested the Government Inspectorate to promptly identify localities that lack determination or fail to handle violations thoroughly, including cases where vessels not meeting legal requirements are still allowed to leave ports, and to clarify responsibilities and impose sanctions without delay.