Gold bar shops in Ho Chi Minh City must publicly display identification signs.

On May 19, the State Bank of Vietnam (SBV) Region 2 branch sent a document to credit institutions and businesses licensed to trade in gold bars in Ho Chi Minh City, requesting them to comply with the regulations in Decree 24/2012 on gold market management.

SJC gold bar trading units must display clear signs at the transaction point, with specific information about having been licensed by the State Bank to buy and sell gold bars.

In addition, units must publicly post certified copies of their gold bar trading licenses at appropriate locations to help people easily identify legal transaction locations and avoid confusion with regular gold jewelry and fine art stores.

Licensed gold bar trading locations must post public signs confirming that they are licensed by the State Bank (Photo: Hai Long).

The State Bank of Vietnam, Region 2 Branch, also emphasized the requirement for units to comply with reporting regulations, ensuring that data and reporting information fully, promptly and accurately reflect the situation of gold bar trading activities.

Reports including periodic gold bar trading situation and changes related to license content or business location adjustment must be fully submitted to SBV branch region 2.

Previously, the State Bank of Vietnam, Region 2 Branch, also issued a document requesting credit institutions and related enterprises to coordinate in providing information and ensuring that gold trading activities in the area comply with legal regulations.

Mr. Nguyen Duc Lenh - Deputy Director of the State Bank of Vietnam, Region 2 Branch, recommends that people should only buy and sell SJC gold bars at organizations and businesses licensed by the State Bank of Vietnam. Transactions at unofficial or unlicensed locations may pose legal risks and the risk of buying poor quality gold.

The State Bank of Vietnam (SBV) Region 2 also warned that gold jewelry businesses are not allowed to buy and sell gold bars without a separate license for this activity. Gold production and trading units must ensure full conditions regarding operating licenses, technical facilities, legal invoices and documents, traceability of product origin, product quality and public selling prices.

The management agency emphasized that transparency and compliance with the law are key factors in preventing violations, curbing smuggling, counterfeiting, and tax fraud in the gold trading sector. This is also the responsibility of both organizations and individuals to contribute to market stability.

Source: https://dantri.com.vn/kinh-doanh/cua-hang-kinh-doanh-vang-mieng-tai-tphcm-phai-treo-bang-nhan-biet-cong-khai-20250519163831315.htm