In this dispatch, the Prime Minister requested the State Bank of Vietnam (SBV) to preside over and coordinate with relevant agencies to continue to seriously, fully, effectively and promptly implement tasks and solutions to stabilize the gold market.

At the same time, closely monitor the developments in world and domestic gold prices, promptly implement solutions according to regulations when necessary to stabilize the gold market; avoid negative impacts on exchange rates, interest rates, the money and foreign exchange markets, and national financial and monetary safety and security; report to the Prime Minister on the implementation results in May 2025.

Along with that, the Prime Minister requested to urgently issue inspection conclusions for enterprises and credit institutions trading in gold according to Inspection Decision No. 324/QD-TTGSNH2 dated May 17, 2024 of the State Bank; proactively handle and report to competent authorities to strictly handle violations of the law according to regulations; report to the Prime Minister on the implementation results in May 2025.

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Prime Minister requests effective management of the gold market. Photo: Nam Khanh

The State Bank of Vietnam is assigned to preside over and coordinate with the Ministry of Justice and relevant ministries and branches to urgently complete the proposal to amend and supplement Decree 24/2012/ND-CP on the management of gold trading activities; supplement and consolidate regulations to enhance the effectiveness of state management tools, develop a transparent, healthy, effective and sustainable market, contribute to promoting socio-economic development, and stabilize the macro-economy; report to the Government according to simplified procedures in June 2025.

In addition, the Prime Minister stated that it is necessary to be more proactive in information and communication work; promptly provide official, public and transparent information on policies and strategies for managing the financial, monetary, foreign exchange and gold markets; stabilize people's psychology and create social consensus.

The Prime Minister also requested the Ministry of Public Security to preside over and coordinate with the State Bank and inspection, examination, law enforcement agencies and relevant authorities to promptly implement measures as prescribed to strictly handle violations of the law related to the gold market and gold trading activities, especially acts of smuggling, speculation, illegal trading and market manipulation.

The Head of Government also directed the Ministries of Public Security, Industry and Trade, Science and Technology, Finance, Justice, Culture-Sports and Tourism, relevant agencies and localities, according to their assigned functions and tasks, to proactively coordinate closely with the State Bank in managing the gold market; promptly share and provide information and proactively handle work and tasks within their authority; promptly report to competent authorities on issues arising beyond their authority.

The State Bank's inspection team is strictly inspecting the gold market and will strictly handle violations, including criminal violations . Having completed the inspection of 2 banks and 4 gold trading enterprises, the State Bank's inspection team said that they will resolutely fight, handle and propose strict handling of violations, including criminal violations.

Source: https://vietnamnet.vn/thu-tuong-yeu-cau-som-ban-hanh-ket-luan-thanh-tra-cac-to-chuc-kinh-doanh-vang-2400891.html