Ho Chi Minh City: Gold bar selling points must hang identification signs

In a document sent to businesses and banks licensed to buy and sell gold bars in Ho Chi Minh City on the afternoon of May 19, the State Bank of Vietnam, Region 2 Branch (SBV, Region 2) continued to request strict management of this business activity.

This agency requested banks and businesses licensed to trade in gold bars in Ho Chi Minh City to continue to fully comply with their responsibilities in gold bar trading activities according to the provisions of Decree 24 of the Government on the management of gold trading activities, as well as guiding Circulars and related regulations.

Gold bar trading locations must display identification signs.

The State Bank requires that at locations where gold bars are bought and sold, signs must be posted clearly stating the information "Location licensed to buy and sell gold bars".

At the same time, a certified copy of the Business License to purchase and sell gold bars issued to the unit must be publicly posted.

"The hanging of the signboard depends on the appropriate location of the unit, but it must ensure that people recognize the legal place to buy and sell gold bars, to distinguish it from other stores and businesses trading in gold jewelry and fine art. This also allows people to identify this as a place to buy and sell gold bars licensed by the State Bank," the State Bank's announcement clearly stated.

Enterprises must comply with the business reporting regime in accordance with regulations, ensuring complete, timely and accurate data and information on gold bar buying and selling activities according to the provisions of the Circulars guiding Decree 24.

Every quarter, businesses must compile a list of all gold bar buying and selling locations operating in Ho Chi Minh City and send it to the State Bank of Vietnam Region 2.

Every quarter, businesses must compile a list of gold bar buying and selling locations operating in Ho Chi Minh City and send it to the State Bank. (Photo: H. Linh)

Enterprises are also required to strictly and fully report changes in information content on business licenses for buying and selling gold bars and adjusting business locations to the State Bank of Vietnam in Region 2 in accordance with regulations.

Recently, on May 14, the State Bank of Vietnam, Region 2 Branch, also sent a document to the relevant authorities in Ho Chi Minh City, requesting to increase information and propaganda on the production of gold jewelry and fine arts. Thereby, improving management efficiency and ensuring the gold market operates transparently and in accordance with regulations.

Business enterprises must meet the requirements on facilities and specialized equipment; ensure regulations related to product quality and origin; invoices and documents. Production and business areas must be safe and secure, ensure fire prevention and fighting, protect the environment, etc.

The State Bank of Vietnam commits to granting Certificates of eligibility for gold jewelry and fine art production with public and transparent administrative procedures and completely free procedures at No. 8 Vo Van Kiet Street, District 1, Ho Chi Minh City.

Enterprises in need will submit their applications directly and will be received and processed in accordance with regulations.

Ha Linh

Source: https://vtcnews.vn/tp-hcm-diem-ban-vang-mieng-phai-treo-bang-nhan-dien-ar944037.html