Establish a gold trading floor in Vietnam to clarify the gold's path

Mr. Pham Tien Dung - Deputy Governor of the State Bank - said that in October he will submit to the Government a draft resolution on establishing a gold trading floor in Vietnam.

According to Deputy Governor of the State Bank Pham Tien Dung, the goal of the gold trading floor in the first phase is to make transparent all imported gold that is bought, sold, exchanged, and put into production - Photo: SBV

On the afternoon of October 15, the State Bank held a seminar on establishing a gold trading floor in Vietnam to gather opinions from banks, gold trading businesses and economic experts.

Help to unlock the gold resources in the people

Speaking at the seminar, Deputy Governor Pham Tien Dung said that, implementing the direction of General Secretary To Lam on policies and mechanisms to promote the effectiveness of the gold market, the State Bank submitted to the Government to issue Decree 232 on August 26, amending and supplementing a number of articles of Decree 24 on the management of gold trading activities.

At the same time, the State Bank has promptly issued Circular No. 34 guiding a number of articles of these two decrees. This is an important legal basis for gold import, gold production and gold trading activities in the country.

On that basis, the research and establishment of a gold trading floor is a synchronous policy to contribute to unblocking the source of gold among the people, making gold trading activities transparent, and limiting the situation of uncontrolled free trading...

"The State Bank has just received instructions to submit to the Government this October a draft resolution on piloting gold trading floors in Vietnam," the Deputy Governor informed.

Mr. Dao Xuan Tuan - Director of the Foreign Exchange Management Department (State Bank) - said that people's habit of hoarding gold has existed for a long time.

Therefore, the purpose of establishing a gold exchange is to become a channel to mobilize gold resources among the people, reduce gold hoarding, and convert them into resources for investment in production and business.

Through the gold trading floor, people and businesses come here to trade, buy and sell gold, convert it into money and put the money into production and business activities.

In the immediate future, we will trade imported raw gold.

Regarding the expected model of the gold trading floor, according to Mr. Tuan, the State Bank established a national gold trading floor with a 3-phase operating roadmap.

Specifically, the first phase is the trading of imported raw gold. The second phase is the trading of imported raw gold and gold bars. The third phase is the establishment of a centralized and modern gold exchange, following international practice, with trading of imported raw gold, gold bars, domestic gold, gold certificates and derivative instruments.

"The goal of the gold trading floor in the first phase is to make transparent all imported gold is bought, sold, exchanged, and put into production. When traded on the floor, the path of gold is very transparent.

Moving on to the next step, after doing this well, we will put more gold bars produced by licensed units on the trading floor. Currently, there are 16-17 units that meet the conditions. The next step, when the implementation is successful, is to put gold derivatives on the floor," the Deputy Governor informed.

LE THANH

Source: https://tuoitre.vn/lap-san-giao-dich-vang-tai-viet-nam-de-minh-bach-duong-di-cua-vang-20251015181537814.htm