Research and development of establishing a Gold Trading Floor in Vietnam

The seminar aims to provide information, exchange opinions, share experiences, and consult on policies on the establishment and operation of the Gold Exchange in Vietnam. This is an important step in the process of perfecting the legal framework and operating mechanism for the Gold Exchange, ensuring that the pilot implementation is carried out on the principles of caution, with a roadmap, safety, transparency, and efficiency, contributing to the stability of the gold market and the macro economy .

In his opening speech, Deputy Governor of the State Bank of Vietnam Pham Tien Dung stated: Over the past years, the Vietnamese gold market has gone through many different stages of development. With the steadfast management of the Government and the State Bank, especially since the issuance of Decree No. 24/2012/ND-CP, gold market management activities have gradually entered a framework, contributing significantly to stabilizing the macro-economy, controlling inflation, and strengthening people's confidence in the Vietnamese Dong.

In that context, implementing the direction of the General Secretary in Notice No. 211-TB/VPTW dated May 30, 2025 on mechanisms and policies for effective management of the gold market, the State Bank submitted to the Government for promulgation Decree No. 232/2025/ND-CP dated August 26, 2025 amending and supplementing a number of articles of Decree 24 on management of gold trading activities. At the same time, the State Bank promptly issued Circular No. 34/2025/TT-NHNN dated October 9, 2025 guiding a number of articles of Decree 24 and Decree 232. These are important legal bases for gold import, production and trading activities of buying and selling gold in the country.

“On that basis, the research and consideration of establishing a Gold Exchange is a synchronous policy to perfect the market institutions and infrastructure under the direction of the General Secretary, the Prime Minister and competent authorities, in order to contribute to unblocking the source of gold among the people, making gold trading transparent, limiting the situation of uncontrolled free trading and strengthening the role of state management in the gold market,” Mr. Pham Tien Dung affirmed.

In addition, according to the representative of the State Bank, the establishment and operation of the Gold Exchange will contribute to providing more transparent data for analysis, forecasting and policy making; data from the gold exchange, if connected and processed promptly, will become a useful additional information channel to support policy making.

“The State Bank looks forward to receiving frank, multi-dimensional and highly practical opinions from ministries, branches, agencies, experts, credit institutions and enterprises to perfect the research plan and submit it to the Government for consideration in the coming time,” said Deputy Governor of the State Bank Pham Tien Dung.

Deputy Governor of the State Bank Pham Tien Dung delivered the opening speech at the seminar.

At the seminar, the opinions and discussions deeply and comprehensively reflected the current situation as well as suggested directions for establishing and operating the Gold Trading Floor in Vietnam in the new period.

The presentations focused on: Instructions related to the establishment of the Gold Exchange; International experience from the successful model of the Shanghai Gold Exchange (SGE); Practical policy recommendations so that the State Bank can build a model suitable for the current conditions of depository, inspection and payment in Vietnam.

The contents of the exchange and discussion at the seminar all agreed on the following contents: Establishing and putting into operation a centralized gold trading floor, organized and managed uniformly; first of all, a physical gold trading floor, researching a roadmap for trading non-physical gold; Establishing a gold trading floor is a strategic step in macro management; The operation of the gold trading floor will contribute to gradually stabilizing the gold market, can create more confidence of the people to put gold into circulation and convert it into investment in production, business, and economic development.

HONG ANH

Source: https://nhandan.vn/nghien-cuu-trien-khai-thanh-lap-san-giao-dich-vang-tai-viet-nam-post915518.html