Deputy Governor: Coordinating with the Ministry of Public Security and the Government Inspectorate to manage the gold market

The State Bank is developing guiding documents to implement Decree 232 on gold trading management and carry out the Prime Minister's direction on market management.

Deputy Governor of the State Bank of Vietnam Pham Thanh Ha speaks at a press conference - Photo: HONG QUANG

On the afternoon of September 6, at the regular Government press conference, Deputy Governor of the State Bank of Vietnam Pham Thanh Ha informed about the implementation of the Government's Decree on gold business management, procedures for establishing gold enterprises in particular, and gold production and trading after the issuance of the decree.

Building guidance documents

According to Mr. Ha, Decree 232 amending and supplementing Decree 24 on gold trading management has been issued by the Government, stipulating that the State Bank grants licenses to businesses and organizations to carry out activities related to gold production and trading.

Specifically, enterprises and organizations are allowed to produce gold bars; second, to trade in gold; third, to produce gold jewelry and fine arts. Enterprises established in accordance with the provisions of the Investment Law, the Enterprise Law and related legal provisions.

Regarding the licensing of gold bar production, specific conditions are set for businesses and organizations to be considered for licensing. In particular, the State Bank regulates the documents and procedures for licensing. Decree 232 takes effect from October 10, 2025.

"Currently, the State Bank is urgently completing guidance documents in accordance with the prescribed procedures and time for the decree to take effect.

The guiding documents will be designed to ensure publicity, transparency, cost reduction, time and resource saving to support businesses, improve the business environment, and enhance national competitiveness," said Mr. Ha.

At the same time, the Deputy Governor said that the State Bank will closely coordinate with the Ministry of Public Security , the Government Inspectorate and relevant agencies to strictly implement the Prime Minister's direction on gold market management, strictly complying with legal regulations.

Regarding the question of monetary policy management to support growth, Mr. Ha said that the State Bank recognizes this as an extremely important political task. Therefore, many proactive and timely solutions have been deployed to support growth associated with the economy's capital, control inflation and ensure great stability of the economy.

So far, the liquidity of the credit institution system has been guaranteed, the money market has been stable and the exchange rate has been flexible in accordance with the market. The lending interest rate has continued to decrease, at the end of August the average lending interest rate had decreased by 0.6% compared to the end of 2024.

Proactively and flexibly manage monetary policy

Regarding the foreign exchange market, liquidity is well guaranteed, the legitimate foreign currency needs of the economy are met. The average exchange rate of banks increased by about 3.45% compared to the end of last year. Regarding credit, there is a positive development compared to previous years.

Outstanding credit of the entire economy reached about more than 17 million billion VND and the growth rate was about 11.82% compared to the end of 2024. In addition, credit programs and policies were actively, drastically and effectively implemented. Thereby, providing timely capital to the economy and actively contributing to controlling inflation.

Regarding the challenges, Mr. Ha said that there are many forecasted challenges, requiring management to closely follow the situation, proactively, flexibly and effectively deploy.

In particular, the State Bank continues to flexibly manage all monetary policy tools and solutions at the right time and in the right amount, and in harmony between exchange rates and interest rates, creating favorable conditions for production and business and supporting growth, while still ensuring macroeconomic stability and controlling inflation.

Manage exchange rates and foreign exchange markets flexibly and closely, ready to intervene in the market when necessary to ensure the stability of the foreign exchange market. Banks and credit institutions continue to cut costs, enhance digital transformation to facilitate lower lending interest rates, and support borrowers of businesses and people.

Regarding credit, continue to operate in accordance with economic developments, scale and capital absorption capacity to promptly provide capital to the economy. Timely remove difficulties in implementing credit policies, creating favorable conditions for businesses and people to access bank capital.

Back to topic

HONG QUANG - NGOC AN

Source: https://tuoitre.vn/pho-thong-doc-dang-phoi-hop-bo-cong-an-thanh-tra-chinh-phu-quan-ly-thi-truong-vang-20250906155209534.htm