Decree 24

The draft circular of the SBV states that when gold bars no longer have monopoly, who will be the first to be licensed. Photo: Hai Nguyen.

SBV's grand surgery for gold procedures: Reduced 2/3 of licensing time, eliminated many conditions

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The new draft circular of the SBV opens the door to produce gold bars to replace all old regulations of Circular 16.

Prime Minister Pham Minh Chinh requested an urgent proposal to amend Decree 24 on gold trading. Photo: Hai Nguyen

Urgently amend the Decree on gold trading in July

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The Prime Minister requested to strengthen the management of the gold market; urgently submit amendments to Decree 24 on gold trading in July 2025.

Mr. Dao Xuan Tuan - Director of the State Bank's Foreign Exchange Management Department - informed: "The State Bank will grant licenses to credit institutions and enterprises that meet the conditions to produce gold bars. Photo: Interviewee.

Ending the monopoly on gold bars, about to add more banks and businesses to participate in production

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In the near future, banks and businesses will be allowed to import and produce gold bars, the gold market promises to be vibrant with more competitive brands.

General Secretary To Lam had a working session with the Central Committee for Policy and Strategy on mechanisms and policies for effective management of the gold market in the coming time. Photo: Central Committee for Policy and Strategy.

The General Secretary requested to remove the state monopoly on gold bar brands

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The General Secretary mentioned the removal of the State monopoly on the gold bar brand in a controlled manner; amending Decree 24 on gold market management.

The Ministry of Public Security strictly handles criminal violations in gold trading

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The Prime Minister assigned the Ministry of Public Security to resolutely handle criminal violations; agencies urgently submit amendments to Decree 24 on gold trading.

Urgently research and propose amendments and supplements to Decree No. 24/2012/ND-CP on the management of gold trading activities. Photo: Hai Nguyen

Time to submit to the Government to amend the decree on gold trading

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The Prime Minister requested to urgently propose amendments and supplements to Decree No. 24/2012/ND-CP on the management of gold trading activities, and submit them to the Government in the second quarter of 2025.

The government is required to amend the decree regulating the monopoly of gold bars before June 2025. Photo: Hai Nguyen

Amending the decree on gold bar monopoly before June 2025

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The National Assembly requires that before June 2025, the decree regulating gold trading, including regulations on gold bar monopoly, must be amended.