Deputy Governor of the State Bank: Will coordinate with the Ministry of Public Security to manage the gold market

(Dan Tri) - Deputy Governor of the State Bank Pham Thanh Ha said he will closely coordinate with the Ministry of Public Security and the Government Inspectorate to immediately implement the Prime Minister's instructions on gold market management.

At the regular August Government press conference this afternoon (September 6), Deputy Governor of the State Bank of Vietnam (SBV) Pham Thanh Ha said that Decree 232 will amend and supplement Decree 24 on the management of gold trading activities.

Accordingly, the State Bank will grant licenses to businesses and banks to produce gold bars; trade in gold and produce gold jewelry. The establishment of businesses will be carried out in accordance with the provisions of the Investment Law, the Enterprise Law and related laws.

"Regarding gold production licensing, Clause 7, Article 1 of Decree 232 stipulates specific conditions for businesses to be considered for a license. The State Bank regulates the documents and licensing procedures," Mr. Ha informed.

According to the Deputy Governor of the State Bank, Decree 232 takes effect from October 10. The State Bank is urgently completing guiding documents, in the direction of publicity, transparency, cost savings, time savings and resources for businesses.

The Deputy Governor also 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 instructions on gold market management, ensuring strict compliance with legal regulations.

Deputy Governor of the State Bank Pham Thanh Ha (Photo: VGP).

Previously, at the regular Government meeting in August, Prime Minister Pham Minh Chinh said that the fluctuations in gold prices were very noticeable. The head of the Government said that he had directed the relevant agencies to take action to prevent market manipulation, hoarding, and price hikes.

In particular, the Prime Minister emphasized controlling gold and USD prices using existing tools, and the competent authorities must decide on anything. If anything is needed or lacking, it must be promptly reported to the Government and the Prime Minister.

Government leaders also said that credit growth must direct cash flow into production and business, improve people's lives, control credit, not let cash flow go into speculation; inspect, check, and control banks that only mobilize deposits without lending or lending little.

Source: https://dantri.com.vn/kinh-doanh/pho-thong-doc-nhnn-se-phoi-hop-bo-cong-an-quan-ly-thi-truong-vang-20250906170021937.htm