This is not a far-fetched idea but a reality. Customs data shows that the export value of gemstones, precious metals, and related products reached US$2.1 billion in 2019, a 231.2% increase compared to the same period in 2018. By 2020, this figure had risen to US$2.6 billion. Vietnam also possesses a large force of experienced, highly skilled, and renowned jewelry artisans. Significantly, for various reasons, particularly a shortage of raw materials, the domestic jewelry industry is shrinking.
Five years ago, in a conversation with the author, a businessman with over 40 years of experience in the gold industry expressed regret that the potential and advantages of the domestic gold jewelry and handicraft industry could not be fully realized due to being regulated alongside gold bars, falling under the category of conditional business sectors. In reality, the production and business activities of this segment do not have the specific characteristics of a conditional business sector; they are simply like other ordinary goods: businesses are established according to the law, registered to produce gold jewelry and handicrafts in their certificates; they have locations, facilities, and necessary equipment to serve production activities. If not restricted, and if there were sufficient raw materials for production and processing, the export of gold jewelry and handicrafts could bring in 3-5 billion USD annually. This figure is equivalent to the export value of many key commodities today such as rice, durian, and cashew nuts.
That's not even considering the enormous potential for revenue from on-site exports. For many years, Vietnamese tourists visiting Thailand, Hong Kong, Dubai, etc., have often been taken to large gold, silver, and gemstone centers and have been very enthusiastic about shopping. Conversely, Vietnam is expected to welcome over 21 million international tourists in 2025. If the gold jewelry and handicraft industry recovers and develops, with the skillful hands of domestic artisans, the revenue from on-site exports of these items will certainly be substantial. Vietnam could even dream of becoming a regional center for gold jewelry and handicraft production.
And that dream is becoming a reality as the draft decree amending and supplementing several articles of Decree No. 24/2012 of the State Bank of Vietnam (SBV) proposes removing the production, processing, and trading of gold jewelry and handicrafts from the list of conditional investment and business sectors. Businesses will no longer have to apply for licenses or certificates of eligibility from the SBV as before, but only need to fully comply with general legal regulations on product quality, measurement standards, labeling, price listing, tax obligations, etc. Gold jewelry and handicrafts will also no longer be subject to specialized inspection and examination, helping to reduce the administrative burden for businesses. This proposal not only removes the "shackles" that have plagued gold jewelry and handicrafts for nearly 14 years, but also shows a new mindset, shifting from a licensing-based management mechanism to a post-inspection mechanism.
To put it simply, freeing up just one industry, or even just one segment like gold jewelry and handicrafts, can bring enormous qualitative and quantitative benefits to the country. Removing business restrictions in many sectors will unleash vast, suppressed resources, creating opportunities for growth, development, and the creation of jobs, ultimately contributing to the nation's overall economic growth.
This is also the policy that the Party and State are resolutely pursuing in administrative reform, creating a transparent and open business environment. This will awaken the desire to get rich and contribute throughout society, working together to achieve the country's high growth targets in the new era.
According to Nguyen Minh (TNO)
Source: https://baogialai.com.vn/giai-phong-nguon-luc-post588792.html
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