The State Bank is seeking comments on the draft Circular guiding the production of gold jewelry and fine arts; the production of gold bars, the trading of gold bars, and the export and import of gold according to the provisions of Decree No. 24/2012/ND-CP of the Government on the management of gold trading activities, amended and supplemented by Decree No. 232/2025/ND-CP.

This Circular applies to enterprises and credit institutions conducting gold trading activities in Vietnam and related organizations and individuals.

Notably, the establishment and adjustment of the total annual limit for the import and export of gold bars and raw gold imports are based on the macroeconomic situation, monetary policy management objectives and the scale of the state foreign exchange reserves. Therefore, the draft Circular stipulates the establishment of a Limit Establishment Council consisting of functional units within the State Bank to ensure objectivity and transparency.

The Council for establishing and adjusting gold export and import limits is chaired by the Deputy Governor of the State Bank in charge of gold business management; its members are heads of relevant units of the State Bank: Foreign Exchange Management Department, Monetary Policy Department, Forecasting, Statistics - Financial and Monetary Stabilization Department, and Credit Institution Management and Supervision Department.

The Council for Building Operating Limits shall operate according to regulations prescribed by the Governor of the State Bank.

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A series of new regulations on gold market management are about to take effect. Photo: Nam Khanh.

The task of the Limit Building Council is to advise the Governor of the State Bank of Vietnam to decide and adjust the total limit for the export and import of gold bars and raw gold; and to allocate annual limits to each enterprise and commercial bank.

Draft regulations on dossiers requesting the issuance of quotas for the export and import of gold bars and raw gold for enterprises and commercial banks licensed to produce gold bars, including application forms; reports on the implementation of gold export and import activities (if any); dossiers requesting quotas.

According to Article 4 of the draft replacement circular, the application for a Business License to buy and sell gold bars includes:

Application for a license according to the form; list of business locations for buying and selling gold bars; certificate of registration of branch operations (for enterprises); confirmation from the tax authority of the amount of tax paid for gold trading activities in the previous 2 consecutive years.

According to Article 5 of the draft, the application for granting, amending and supplementing a license to produce gold bars includes: Application for a license; documents proving the charter capital of the enterprise or commercial bank; internal regulations on gold bar production.

Attached are documents proving that remedial measures have been completed and recommendations with implementation deadlines in the Inspection and Examination Conclusion of the competent state agency on gold trading activities (if any).

Article 7 of the draft circular stipulates the application dossier for a license to import raw gold for foreign-invested enterprises to produce gold jewelry and fine arts.

Accordingly, no later than December 15 of the year before the planning year or when it is necessary to supplement the volume of imported raw gold, enterprises need to submit an application for a license to import raw gold.

The dossier includes: Application form; investment registration certificate; gold jewelry and fine art processing contract with foreign countries; report on the implementation of export, import and consumption of gold products in the Vietnamese market within 12 consecutive months before the reporting time... and other relevant documents according to the regulations of the State Bank.

Source: https://vietnamnet.vn/pho-thong-doc-nhnn-lam-chu-tich-hoi-dong-xay-dung-han-muc-nhap-khau-vang-2447140.html