The Government Office has just issued Document No. 213/TB-VPCP announcing the conclusion of Deputy Prime Minister Le Minh Khai at a meeting on solutions to manage the gold market in the coming time.
The conclusion announcement stated: The State Bank of Vietnam, in accordance with its functions, tasks and authority, has implemented solutions to manage the gold market, however, the situation has not changed much, the domestic gold bar price continues to increase, and the high difference between the domestic gold bar price and the world gold price has not been overcome.
Strengthening the effectiveness of gold market management solutions in the coming time
Deputy Prime Minister Le Minh Khai requested the State Bank of Vietnam and relevant ministries and agencies, according to their assigned functions, tasks and authorities, to continue to resolutely, seriously, fully and effectively implement tasks and solutions to manage the gold market both in the short and long term according to the direction of the Government, the Prime Minister, and Government leaders in Resolutions, Official Dispatches, Directives and related documents, especially Notice No. 160/TB-VPCP dated April 11, 2024 of the Government Office, focusing on implementing a number of tasks and solutions.
The State Bank of Vietnam presides over and coordinates with relevant agencies to study and absorb the opinions of delegates attending the meeting: Urgently review and comprehensively evaluate the results of the implementation of gold market management solutions of the State Bank of Vietnam in the past time and the developments of the domestic and international markets to consider, within its authority, more timely and effective implementation of solutions and management tools in accordance with legal regulations to immediately stabilize and stabilize the gold market according to the set goals.
The State Bank of Vietnam ensures effectiveness, efficiency, and closeness to the actual situation of the gold market's operations, immediately overcoming the situation of the high difference between domestic gold bar prices and international gold prices.
At the same time, the State Bank of Vietnam ensures that the gold market operates stably, effectively, healthily, publicly, transparently, and in accordance with legal regulations, without gold-izing the economy and affecting macroeconomic stability and national financial and monetary security.
Urgently and immediately carry out specialized inspections and examinations of the gold market, the activities of gold production and trading enterprises, stores, agents distributing and trading gold bars, compliance with regulations related to production and trading activities as prescribed in Decree No. 24/2012/ND-CP dated April 3, 2012, regulations on competition and relevant legal regulations, and report the results to the Prime Minister in May 2024, without further delay.
Timely correct and strictly handle violations
The Deputy Prime Minister requested the State Bank to preside over and coordinate with relevant agencies to strengthen state management of the gold market in accordance with legal regulations; strictly manage the production and trading of gold bars, promptly rectify and strictly handle violations in the production and trading of gold bars, especially acts of law violation, smuggling, illegal importation, profiteering, speculation, manipulation, price hikes, and illegal competition...
In case of signs of law violation, promptly transfer the file to the Ministry of Public Security and relevant authorities for handling according to regulations.
Continue to thoroughly review, evaluate and summarize the implementation of Decree No. 24/2012/ND-CP dated April 3, 2012 to study and propose solutions and policies for gold market management that are suitable to reality, in accordance with legal regulations, with effective and efficient control and management tools for the gold market and with sanctions to strictly handle violations of the law on gold trading activities.
The Deputy Prime Minister also requested the Ministry of Finance to preside over and coordinate with the State Bank of Vietnam and relevant agencies according to their assigned functions and tasks to urgently implement drastic, synchronous and effective solutions requiring enterprises and gold trading units to strictly implement regulations on electronic invoices in business activities, buying and selling gold on a case-by-case basis, resolutely not to delay, and to complete by the second quarter of 2024 at the latest.
Ministries and agencies: Public Security, Finance, Industry and Trade, Planning and Investment, Information and Communications, Science and Technology, Justice, Government Inspectorate, border guards, tax, customs, market management, agencies related to state management of competition and relevant agencies, according to their assigned functions and tasks, proactively perform appropriate and effective tasks and solutions within their authority and legal regulations, closely coordinate with the State Bank of Vietnam in managing and stabilizing the gold market, ensuring gold production and trading activities in accordance with the provisions of Decree No. 24/2012/ND-CP dated April 3, 2012 and other relevant regulations, promptly report to competent authorities on issues beyond their authority and arising issues.
The Government Office monitors and urges according to assigned functions and tasks.
TB (according to Vietnam+)Source
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