According to the draft Circular guiding the implementation of Decree No. 232/2025/ND-CP (Decree 232) amending and supplementing a number of articles of Decree No. 24/2012/ND-CP on the management of gold trading activities, the State Bank will grant export and import limits for gold bars and raw gold to commercial banks and gold trading enterprises.

At the State Bank of Vietnam (SBV)'s press conference for the third quarter of 2025 on the morning of October 3, Mr. Dao Xuan Tuan - Director of the Foreign Exchange Management Department, SBV - said that this is a major policy, expected to create a fundamental change in the gold market.

He said the State Bank will issue a guiding circular on October 10, at the same time the decree officially takes effect, so that it can be implemented immediately.

BMT_4209.jpg
The press conference was chaired by Deputy Governor of the State Bank of Vietnam Pham Thanh Ha. Photo: State Bank of Vietnam

What the public is concerned about is increasing the supply of gold. Mr. Tuan affirmed that licensing and limiting gold imports is the main goal of the management agency.

"The State Bank always attaches importance to publicity and transparency in granting limits, ensuring the principle of transparency in the market," the Director of the Foreign Exchange Management Department emphasized, saying that when these documents officially come into effect, the gold market will be more transparent.

Decree 232/2025/ND-CP abolishes the state monopoly on gold bar production, grants licenses to qualified enterprises and commercial banks to produce gold bars, and expands the right to export and import gold.

The draft guiding circular of the State Bank clearly states that no later than November 15 every year, licensed enterprises and commercial banks must send documents on their demand for gold export and import limits to the State Bank.

Specifically, units wishing to participate in gold bar production must submit a dossier including an application, documents proving charter capital, internal regulations on production processes, and documents on post-inspection remedies (if any).

One month later, before December 15, the State Bank will grant limits on the export and import of gold bars and raw gold to businesses and commercial banks.

Source: https://vietnamnet.vn/ngan-hang-nha-nuoc-se-cap-han-muc-nhap-khau-vang-the-nao-2448780.html