Prime Minister: Strictly handle acts of manipulation and instability in the gold market

In the telegram, the Prime Minister requested the State Bank of Vietnam (SBV) to preside over and coordinate with relevant agencies to closely monitor the developments in world and domestic gold prices, promptly implement necessary solutions and tools according to regulations to stabilize the gold market, narrow the gap between international gold prices and domestic gold prices, and not to negatively impact exchange rates, interest rates, the monetary and foreign exchange markets, and national financial and monetary security and safety, and adversely impact macroeconomic stability.

"Strengthen inspection and examination to detect and strictly handle violations, especially acts of manipulation, hoarding, smuggling, speculation, profiteering, illegal trading, etc. causing instability in the gold market," the Prime Minister requested.

The Prime Minister also requested the SBV to promptly issue documents guiding the implementation of Decree No. 232/2025 of the Government amending and supplementing Decree 24/2012 on management of gold trading activities under its authority; proactively coordinate with relevant ministries and agencies to synchronously and effectively implement Decree No. 232/2025.

"There are effective solutions to prevent negative impacts on the gold market during the transition period," the dispatch stated.

Proactively carry out information and communication work well; promptly provide official, public, and transparent information on policies and strategies for management and operation of financial, monetary, foreign exchange, and gold markets, quickly stabilize the psychology of people, businesses, and market confidence.

The Prime Minister assigned the Government Inspectorate to urgently develop a plan and organize effective inspections of credit, banking and gold trading activities in accordance with the law.

Also in the telegram, the Prime Minister requested the State Bank to manage credit in accordance with macroeconomic developments and monetary policy goals, meeting the economy's credit capital needs.

Direct credit institutions to continue to reduce costs, simplify administrative procedures, and promote digital transformation to create room for reducing lending interest rates; direct credit to production and business sectors, priority sectors, traditional growth drivers of the economy (investment, export, consumption) and new growth drivers (science and technology, innovation, digital economy, green economy, circular economy, etc.).

Effectively implement credit programs for social housing loans, infrastructure investment, digital technology, support for linking production, processing and consumption of high-quality rice products, etc.

Strengthening the handling of bad debts, strictly controlling credit flows to potentially risky areas. Strengthening and further improving the effectiveness of inspection, examination and supervision of credit institutions to prevent and strictly handle violations in banking activities (especially manipulation, cross-ownership, credit granting to "backyard" enterprises, etc.).

Complete digital transformation in the banking system to control risks, especially control cash flow in and out of banks using digital technology... in the fourth quarter of 2025.

Develop a roadmap and pilot the removal of credit growth target assignment measures to be implemented from 2026 according to the Prime Minister's direction in Official Dispatch No. 128. Continue to promote the development of non-cash payments and digital transformation in banking activities.

"Use monetary and banking policy tools to manage exchange rates flexibly, harmoniously, effectively, and in reasonable balance with interest rates; strictly manage the foreign exchange market, and stabilize the value of the Vietnamese Dong," the Prime Minister requested.

vtv.vn

Source: https://baolaocai.vn/thu-tuong-xu-nghiem-hanh-vi-thao-tung-gay-bat-on-thi-truong-vang-post881616.html