Regarding the management of gold jewelry and fine arts, the Ministry of Science and Technology issued Circular No. 22/2013/TT-BKHCN dated September 26, 2013 regulating measurement management in gold trading and quality management of gold jewelry and fine arts; promulgating 33 national standards in the jewelry group.

Accordingly, gold jewelry and fine art are gold products with a gold content of 8 karats (equivalent to 33.3%) or more, processed and crafted to serve the needs of jewelry and fine art decoration.

Gold content (also known as gold age) is the percentage (%) calculated by mass of gold in the main ingredient of gold jewelry and fine art products.

Karat (K) is a unit of gold content, corresponding to the number of parts of pure gold in a total of 24 parts of the alloy's mass.

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Decree 24 stipulates: gold jewelry and fine art production is a conditional business activity. Photo: Thach Thao

Meanwhile, according to Clause 6, Article 4 of Decree 24, the production of gold jewelry and fine arts is a conditional business activity and must be granted a certificate of eligibility to produce gold jewelry and fine arts by the State Bank.

According to reports from 63 provincial and municipal branches of the State Bank, by the end of the first quarter of 2025, the number of enterprises granted certificates of eligibility to produce gold jewelry and fine arts will be over 6,800.

Of these, there are 2 provinces with no manufacturing enterprises, namely Lai Chau and Son La; 25 localities have the number of licensed enterprises from 100 enterprises or more. Ho Chi Minh City is the locality with the largest number of enterprises producing gold jewelry and fine arts, with 650 enterprises, accounting for about 9.5% of the total number nationwide.

According to Clause 7, Article 4 of Decree 24, the business of buying and selling gold jewelry and fine arts is a conditional business activity that does not require a certificate of eligibility to do business. Enterprises that meet the conditions for buying and selling gold jewelry and fine arts only need to register their business with the Department of Planning and Investment (now the Department of Finance), and do not need to apply for permission from the State Bank.

Regarding the export and import of gold jewelry and fine arts, according to Clause 1, Article 13 of Decree 24, the export and import of gold jewelry and fine arts must be carried out in accordance with the business registration certificate or enterprise registration certificate. The State Bank of Vietnam does not grant licenses for the export and import of gold jewelry and fine arts. Enterprises importing and exporting gold jewelry and fine arts must fulfill their tax obligations in accordance with regulations.

Regarding the source of raw gold for the production of gold jewelry and fine arts, from 2012 to now, the State Bank has not granted import licenses for raw gold to enterprises producing gold jewelry and fine arts. Enterprises must balance their own raw material sources to serve production.

Regarding price, similar to gold bars, Decree 24 does not regulate the price of gold jewelry and fine art. These are considered normal goods so the price is determined by the market.

With the monopoly gone, where are scratched and deformed SJC gold bars reprocessed? Currently, there is still a certain amount of SJC gold bars circulating on the market, including products that are scratched, deformed or have additional marks and symbols that are not SJC's.

Source: https://vietnamnet.vn/vang-trang-suc-my-nghe-duoc-quan-ly-the-nao-2411700.html