The gold market in Vietnam is undergoing many new developments.

(Dan Tri Newspaper) - From abolishing the monopoly mechanism to officially taxing the buying and selling of gold bars... recently, the National Assembly has requested the early establishment of a gold trading exchange.

This morning (December 11th), the National Assembly passed a Resolution continuing to implement the resolutions of the 14th and 15th National Assemblies on specialized supervision and questioning. In the banking sector, the National Assembly requested the Government to urgently research and develop solutions to implement, according to a suitable roadmap, the establishment of a gold exchange.

Establish a gold exchange.

Previously, many delegates had suggested the need for solutions to stabilize this market. Some suggested establishing a national gold exchange, allowing this commodity to be traded on a commodity exchange, or setting up a trading floor in an international financial center in Vietnam.

It is known that most of the leading gold jewelry exporting countries in the world are countries with gold exchanges, such as China, India, Turkey, etc. Through the operation of these exchanges, these countries not only monitor the supply of raw gold and create jobs but also generate significant foreign exchange revenue, contributing positively to economic growth.

Mr. Dinh Nho Bang, Chairman of the Vietnam Gold Business Association, shared at a recent event that the demand for gold from individual investors, institutional investors, and countries has increased sharply over the past two years. The developments in the Vietnamese gold market are in line with this global trend.

According to him, the experience of many countries has shown that having an efficiently operating gold exchange is a crucial and necessary factor in developing a domestic gold market. This is even more true during periods of intense gold market activity like the present.

Moreover, Vietnam's jewelry industry has great potential, but the scarcity of raw materials prevents Vietnam from fully exploiting this strength.

Therefore, the Vietnam Gold Business Association believes that establishing, managing, and operating a gold exchange in an efficient and sound manner will bring great benefits to the people, investors, businesses, and the economy.

The gold market in Vietnam is undergoing many new developments (Photo: DT).

A 0.1% tax will be imposed on the transfer of gold bars.

Another noteworthy piece of information is that the amended Personal Income Tax Law, recently passed by the National Assembly and effective from July 1, 2026, includes a provision to tax the transfer of gold bars at 0.1% of the transfer value for each transaction.

This regulation is expected to provide a legal basis for the Government to decide on tax collection and specific details such as tax thresholds and adjustments to tax rates when the conditions for managing the gold market meet the requirements of tax collection and management.

Looking back over the past year, the gold market has been relatively volatile. To stabilize the market, the government is known to have implemented several measures, including increased inspections and audits.

For example, from October 10th, the state's monopoly on gold bar production was abolished. In addition, the legal framework for gold trading is being studied by the State Bank of Vietnam and will be submitted to the Government.

The State Bank of Vietnam plans to pilot the trading platform in three phases. Initially, it will focus on physical gold products. In the second phase, the regulatory body will expand to include gold bars. In the final phase, all types of gold currently in circulation domestically, fund certificates, and derivatives will be introduced and connected to the international market.

Source: https://dantri.com.vn/kinh-doanh/thi-truong-vang-tai-viet-nam-co-nhieu-chuyen-bien-moi-20251212133618487.htm