The State Bank will coordinate with the Ministry of Public Security to manage the gold market.

The State Bank will closely coordinate with the Ministry of Public Security, the Government Inspectorate and relevant agencies to immediately implement the Prime Minister's direction on gold market management.

Gold jewelry is displayed for sale at a gold shop. (Photo: Tran Viet/VNA)

At the regular August Government meeting organized by the Government Office on the afternoon of September 6, Deputy Governor of the State Bank Pham Thanh Ha said that the State Bank will closely coordinate with the Ministry of Public Security, the Government Inspectorate and relevant agencies to immediately implement the Prime Minister's direction on gold market management, ensuring compliance with and strict implementation of legal regulations.

Responding to reporters' questions about the procedures for establishing a gold bar production enterprise in particular, and gold production and trading in general, to ensure publicity, transparency and convenience, Mr. Ha said that according to Decree 232/2025/ND-CP amending and supplementing Decree 24/2012/ND-CP on the management of gold trading activities - the State Bank grants licenses to enterprises and commercial banks to carry out activities of producing gold bars; buying and selling gold bars; and producing gold jewelry and fine arts.

According to Mr. Ha, the establishment of enterprises will comply with the provisions of the Investment Law, the Enterprise Law and related regulations.

Regarding the licensing of gold bar production, Clause 7, Article 1 of Decree No. 232 stipulates specific conditions for enterprises and commercial banks to be considered for the issuance of gold bar production licenses. The Governor of the State Bank shall prescribe the dossier and procedures for granting this license.

Currently, the State Bank is urgently completing documents guiding the implementation of Decree No. 232 (effective from October 10, 2025) in accordance with the order and procedures prescribed by the Law on Promulgation of Legal Documents, ensuring that the effective date of these documents is consistent with the effective date of Decree 232.

“The guidance documents will be designed to ensure publicity, transparency, cost reduction, time and resource savings for businesses in accordance with the Party and Government 's policies and directions on solutions to support businesses; improve the business environment, and enhance national competitiveness,” Mr. Ha said.

Regarding the direction of monetary and credit policy to achieve the goal of controlling inflation and stabilizing the macro economy from now until the end of the year, achieving growth of 8.3-8.5% in 2025, as well as achieving the target of double-digit growth or more in the following years, Mr. Ha said that from the beginning of 2025 until now, the global economy continues to face many risks and uncertainties, stemming from tariff policies, geopolitical tensions and unpredictable monetary policy roadmaps of major central banks.

Domestically, production and business activities of enterprises continue to face many difficulties, consumption and export are affected by the complex and unpredictable developments of the global economy as well as the international financial market.

“In that context, the Government set a target of 8.3-8.5% economic growth by 2025 to lay the foundation for double-digit growth in the following years. The State Bank is deeply aware that this is an extremely important political task, requiring decisive participation,” Mr. Ha emphasized.

Accordingly, the State Bank has proactively and promptly implemented synchronous management solutions to promote economic growth associated with maintaining macroeconomic stability, controlling inflation, and ensuring major balances of the economy.

“As a result, up to now, the liquidity of the credit institution system is guaranteed, the monetary market is stable, and exchange rates fluctuate flexibly in accordance with market conditions,” Mr. Ha informed.

Specifically, the lending interest rate continues to decrease, by the end of August 2025, the average lending interest rate will decrease by about 0.6% compared to the end of 2024. The liquidity of the foreign exchange market is guaranteed, legitimate foreign currency needs are fully and promptly met, by the end of August 2025, the average interbank exchange rate will increase by 3.45% compared to the end of the previous year.

Regarding positive credit growth compared to recent years, Mr. Ha said that by August 29, 2025, outstanding credit balance of the whole economy reached 17.46 million billion VND, an increase of 11.82% compared to the end of 2024.

Credit programs and policies under the direction of the Government and the Prime Minister continue to be implemented resolutely and effectively by credit institutions, thereby providing timely capital to the economy.

“The results achieved in monetary policy management have contributed significantly to controlling inflation in line with the set target,” said Mr. Ha.

Gold is stored at a bank in Frankfurt, Germany. (Photo: AFP/TTXVN)

In the coming time, Mr. Ha said the global economic outlook is forecast to continue to face many difficulties, challenges and increasing risks, requiring policy management to closely follow the situation for proactive, flexible and effective implementation.

Accordingly, based on the socio-economic development orientation of the Party, the National Assembly and the Government, the State Bank will focus on flexibly and synchronously managing tools and solutions at the right time and in the right doses, harmonizing exchange rates and interest rates; creating favorable conditions for production and business, thereby promoting growth, ensuring macroeconomic stability and controlling inflation according to targets.

The State Bank will also continue to flexibly manage exchange rates, closely following market developments, and be ready to intervene in the market when necessary to ensure the stability of the foreign exchange market; direct credit institutions to continue making efforts to reduce operating costs, promote digital transformation, thereby striving to reduce lending interest rates, contributing to supporting businesses and people.

In addition, the State Bank will manage credit in accordance with macroeconomic developments and capital absorption capacity to promptly supply capital to the economy; continue to closely coordinate with ministries and branches to promptly remove difficulties in implementing credit policies, creating favorable conditions for businesses and people to access bank credit capital.

“During the operation process, the State Bank will closely monitor domestic and international economic developments to promptly and flexibly operate monetary policy in accordance with practical requirements,” Mr. Ha emphasized./.

According to Vietnam+

Source: https://baothanhhoa.vn/ngan-hang-nha-nuoc-se-phoi-hop-voi-bo-cong-an-quan-ly-thi-truong-vang-260773.htm