Officers from Market Management Team No. 1 inspect the operations of gold trading establishments in Lang Son city.
Given the complex developments in the gold market, from 2024 to the present, the Prime Minister has issued numerous directives and instructions to strengthen the management of the gold market and prevent smuggling, manipulation, and hoarding.
In implementing the directives and instructions of the Prime Minister, the Market Management Department of the Department of Industry and Trade has issued numerous documents and implementation plans, focusing on areas such as strengthening territorial management and market monitoring; regularly supervising, promptly inspecting, and handling violations according to the law; and promoting information and communication to organizations and individuals trading gold in the area, as well as consumers, regarding price listing, selling at the listed price, and trading goods with clear origins…
Mr. Le Trung Nghia, Team Leader of Market Management Team No. 1, said: Lang Son City has a large number of gold trading establishments in the province, with 12 establishments. Following the direction of the Market Management Sub-Department on gold market management, the team has implemented professional measures, collected information, compiled statistics, reviewed, and created a list of gold trading establishments in the area. Based on the review results, the team developed a plan, organized inspections, and coordinated inspections of gold trading establishments; disseminated information and required establishments to sign commitments to strictly comply with legal regulations. Accordingly, from May 2024 to the present, the team has disseminated information to over 30 establishments; required 14 establishments to sign commitments to comply with regulations on price listing, selling at the listed price, trading goods with clear origin, etc.; and simultaneously inspected 4 gold trading establishments without finding any violations.
Not only Team No. 1 of the Market Management Department, but also other market management teams throughout the province have intensified their inspection and supervision of the gold market. According to statistics from the Provincial Market Management Department, from May 2024 to the present, the market management force has inspected 27 establishments; detected and handled violations at 11 establishments with administrative fines totaling over 160 million VND. The main violations include failure to register changes to the business registration certificate; goods with labels that are obscured, torn, faded, illegible, or do not fully read the mandatory information on the label… Alongside inspections, the market management force has coordinated 1,457 awareness campaigns and obtained 1,399 signed commitments from organizations and individuals trading gold in the area.
Mr. Dang Van Ngoc, Head of the Market Management Department, said: The province currently has 27 gold trading establishments, of which 6 are licensed to trade gold bars. To ensure the stability of the gold market, especially during the current period of complex market fluctuations, the Market Management force has intensified its efforts to monitor the area, develop specialized inspection plans, and conduct surprise inspections of gold trading establishments, particularly those trading in gold bars. In the coming time, the Market Management Department will continue to direct its teams to strengthen inspections and supervision of gold trading activities; educate establishments not to trade in gold and silver products of unknown origin, not to speculate or manipulate gold prices, etc.; and require owners of gold, silver, and jewelry businesses to sign commitments to comply with the law.
As a representative of a well-known gold trading business in the area, Ms. Pham Thi Huong Giang, Business Manager of Phu Nhuan Jewelry Joint Stock Company, PNJ Lang Son branch, stated: "Our company operates in the field of crafting and trading gold, silver, gemstones, and gold bars. In 2018, our store officially opened in Lang Son. Since its opening, the store has been inspected and monitored by relevant authorities regarding its gold trading activities. Accordingly, we always strictly comply with regulations on the trading of gold and jewelry, especially gold bars; we sell goods with guaranteed origin and complete invoices and documents. We also commit to not selling counterfeit goods or goods that infringe intellectual property rights..."
Along with the Market Management Force, the State Bank of Vietnam (SBV), as the state management agency for gold trading activities, has also focused on effectively managing and stabilizing the gold market. Mr. Le Quang Huy, Director of SBV Region 5, stated: In recent times, SBV Region 5 has strengthened its supervision and conducted inspections of gold trading activities in its managed areas. In particular, the SBV has submitted and received approval from the Prime Minister for a proposal to amend and supplement several articles of Decree 24/2012/ND-CP on the management of gold trading activities using a simplified procedure. Currently, the SBV is continuing to follow the established procedures before seeking broad public opinion on the draft Decree. In the coming period, the State Bank of Vietnam Region 5 will continue to coordinate with relevant agencies to strengthen propaganda efforts, raise public awareness, and take measures to stabilize the gold market within its authority; at the same time, it will strengthen supervision, inspection, and examination of gold trading activities, promptly detect shortcomings and violations to strictly handle them in order to ensure that the gold market operates in accordance with the law.
It is evident that the decisive involvement of relevant departments and functional forces has significantly contributed to stabilizing the gold market, preventing profiteering, speculation, market manipulation, and gold smuggling from occurring in the province.
Source: https://baolangson.vn/kiem-soat-chat-thi-truong-vang-5050279.html
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