Proposed charter capital of enterprises allowed to produce gold bars is 500 billion VND

According to the Association, the trading activity is an intermediary between the producer and the consumer (market), helping the circulation and distribution of goods to be as smooth and fast as possible from the producer to the buyer. Like other common goods, businesses trading in gold bars (intermediaries) only need to register their business according to the investment law and the enterprise law.

"The regulation requiring licensing from the State Bank is unnecessary, creates sub-licenses, and is a rigid intervention in the market; affecting the freedom of business of enterprises and the transparency of the market.

In addition, this regulation also affects the production of gold bars (the production of gold bars for the market will be subject to two licenses, a license to produce gold bars and a license to trade in gold bars)," the Association suggested.

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Proposed charter capital for enterprises allowed to produce gold bars is 500 billion VND. Photo: Pham Hai

Regarding the regulations on conditions for granting licenses to produce gold bars for enterprises with charter capital of 1,000 billion VND or more, the Association believes that this regulation is too strict.

According to the Association, there are very few enterprises with charter capital of 1,000 billion VND or more, only 1 to 3 enterprises producing and trading gold can meet this condition. With this regulation, the number of enterprises participating in the production of gold bars is insignificant, this regulation is easy to form so that the state still has a monopoly on the production and supply of gold bars, limiting the supply of gold bars.

Therefore, the Association recommends that the State Bank refer to the actual initial capital needs of SJC Company to invest in gold bar production to have a basis for regulating charter capital conditions in accordance with reality.

“The charter capital requirement for enterprises of 500 billion VND or more is appropriate,” the Association proposed.

In addition, regarding the conditions for participating in gold bar production, in addition to the conditions on charter capital, according to the Association, it is necessary to focus on the conditions on the production capacity of the enterprise (assets, facilities, techniques for the enterprise's gold bar production); on business efficiency, business reputation, brand in the market; on the design and quality of gold bar products registered for production by the enterprise; on the compliance with state regulations related to gold trading.

Proposal to remove the regulation of granting licenses for each gold import and export

Regarding the regulations on granting annual quotas and licenses for each export and import of gold bars and raw gold for gold bar manufacturing enterprises, the Association proposes to consider removing the regulations on granting licenses for each export and import of gold bars and raw gold.

Reasons include increasing sub-licenses, increasing administrative procedures for businesses; hindering the export of gold bars, regenerating foreign currency for the country; losing production and business opportunities for businesses because the world gold market fluctuates continuously, affected by many factors. If waiting for each licensing procedure (in addition to the annual license limit), businesses will lose the opportunity to export or import at the best price; affecting production efficiency and export activities.

The Association proposes to only stipulate that the State Bank shall issue annual quotas for gold bar import and export and raw gold import, allocated to each enterprise from the first quarter of the year according to the principle of publicity and transparency; no sub-licenses will be created.

On that basis, enterprises proactively choose the time and volume (within the limit) to import or export to achieve the highest efficiency. Enterprises periodically report on the implementation of gold import and export limits to the State Bank; the State Bank shall consider and decide on any adjustment or addition to the limit.

Gold price today June 19, 2025: Bad signals, how are SJC gold bars and plain rings? Gold price today June 19, 2025 on the international market increased slightly due to bad signals of the US economy and escalating tensions in the Middle East. The price of SJC gold bars and plain rings is under domestic pressure.
Buying and selling gold from 20 million VND must be transferred to increase transparency. The State Bank is seeking opinions on the draft amendment to Decree 24/2012/ND-CP of the Government related to the management of gold trading activities.

Source: https://vietnamnet.vn/san-xuat-vang-mieng-co-the-phai-xin-2-giay-phep-hiep-hoi-vang-len-tieng-2412986.html