New regulations on gold import and export

Accordingly, Decree No. 232/2025/ND-CP amends and supplements Article 14 of Decree No. 24/2012/ND-CP in the direction of abolishing the State Bank's activities of "organizing the export of raw gold and importing raw gold to produce gold bars". This amendment and supplement is consistent with the direction of eliminating the state monopoly mechanism in the export of raw gold and import of raw gold to produce gold bars.

Issuing annual limits and licenses for each import and export of gold bars

In addition, Decree No. 232/2025/ND-CP also supplements Clause 1, Article 14 on the State Bank granting annual limits and licenses for each export, import of gold bars, and import of raw gold to enterprises and commercial banks specified in Article 11a of this Decree (which are enterprises and commercial banks licensed to produce gold bars). The addition of this provision is consistent with the direction in Notice No. 211-TB/VPTW on eliminating the monopoly mechanism for exporting raw gold and importing raw gold to produce gold bars in a controlled manner on the principle that the State still manages through licensing.

Conditions for granting a license to export and import raw gold

Quy định mới về xuất, nhập khẩu vàng- Ảnh 1.

In addition, to enhance publicity and transparency in the implementation process, the State Bank has transferred the regulations on conditions for granting licenses for exporting and importing raw gold currently stipulated in Circular No. 16/2012/TT-NHNN dated May 25, 2012 guiding a number of articles of Decree No. 24/2012/ND-CP to the regulations in Clauses 4, 5, 6, 7, Article 14 of Decree No. 232/2025/ND-CP. Specifically as follows:

Article 14. Gold export and import

1. The State Bank shall issue annual limits and one-time licenses to enterprises and commercial banks specified in Article 11a of this Decree to export and import gold bars; annual limits and one-time licenses to enterprises and commercial banks specified in Article 11a of this Decree to import raw gold.

2. Based on the monetary policy objectives and gold supply and demand in each period, the State Bank shall grant raw gold import licenses to enterprises as prescribed in Clauses 4, 5 and 6 of this Article and grant raw gold export licenses to enterprises with gold mining licenses as prescribed in Clause 7 of this Article. Enterprises specified in Clauses 4, 5 and 7 of this Article must satisfy the conditions specified in Point c, Clause 1, Article 11a of this Decree.

3. The State Bank's activities of exporting and importing raw gold are exempt from export and import taxes according to the Prime Minister 's decision.

4. Gold trading enterprises with contracts to process gold jewelry and fine arts with foreign countries shall be considered by the State Bank for granting a license to temporarily import raw gold for re-export of products when meeting the following conditions:

a) Have a Certificate of eligibility for gold jewelry and fine art production issued by the State Bank;

b) The need to import raw gold is consistent with the contract for processing gold jewelry and fine arts with foreign countries.

5. Annually, the State Bank shall consider granting licenses to import raw gold to foreign-invested enterprises based on their production capacity and reports on the export of gold jewelry and fine arts in the previous year (if any) when meeting the following conditions:

a) Is a business registered to produce gold jewelry and fine arts;

b) The need to import raw gold is suitable for the contract of processing gold jewelry and fine arts.

6. Enterprises investing abroad in the field of gold mining and wishing to import gold mined abroad will be considered by the State Bank for granting a license to import raw gold when meeting the following conditions:

a) Is an enterprise that has registered gold mining activities in the Investment Certificate;

b) Raw gold expected to be imported is mined by enterprises abroad or is divided into products according to gold mining agreements abroad.

7. Enterprises with a gold mining license shall be considered by the State Bank for granting a license to export raw gold mined by the enterprise when meeting the following conditions:

a) Is a foreign invested enterprise with a gold mining license;

b) Raw gold expected to be exported is mined domestically by enterprises.

8. The export and import of raw gold in the form of powder, solution, solder flakes, gold salt and semi-finished gold jewelry products are carried out in accordance with the Business Registration Certificate.

9. The Governor of the State Bank shall prescribe the dossiers and procedures for granting Gold Export and Import Licenses and the validity period of Gold Export and Import Licenses.

10. Responsibilities of enterprises and commercial banks granted gold export and import licenses as prescribed in Clause 1 of this Article:

a) Only gold bars and raw gold with a content of 99.5% or more are allowed to be imported;

b) Announce the applied standards, mass and content of imported gold bars and raw gold according to the provisions of law and be responsible before the law for the announced applied standards, mass and content of imported products in accordance with the announced standards, mass and content;

c) Develop and report to the State Bank internal regulations on export, import, and measures to ensure safety in gold export and import activities;

d) Develop internal regulations on the sale of raw gold to ensure publicity and transparency; publicly announce information on the sale of raw gold, the rights and obligations of customers; fully and accurately store data on the export, import, and purchase and sale of raw gold;

d) Use imported raw gold for the following purposes:

d1) Production of gold bars;

d2) Production of gold jewelry and fine arts;

d3) Sell to enterprises and commercial banks licensed to produce gold bars;

d4) Sell to enterprises that are granted a Certificate of eligibility to produce gold jewelry and fine arts.

e) Build an information system to process and store data on export, import, and trading of raw gold with basic contents including information on partners, volume, content, and transaction value; connect to provide information to the State Bank according to regulations of the Governor of the State Bank;

g) Comply with the provisions of this Decree and other relevant legal provisions.

Source: https://phunuvietnam.vn/quy-dinh-moi-ve-xuat-nhap-khau-vang-20250826223911645.htm