On September 16, at the Government Headquarters, Deputy Prime Minister Ho Duc Phoc chaired a meeting with the State Bank of Vietnam and ministries and branches on monetary policy management and gold market management.
At the meeting, the State Bank of Vietnam reported on the inspection and examination of the gold market.
The State Bank has directed the State Bank of Vietnam, branches in some areas to preside over and coordinate with the People's Committees of provinces and cities, police agencies, and tax agencies in the area to conduct surprise inspections and examinations of compliance with regulations on gold trading activities, accounting regimes, taxes, and the use of invoices and documents; regulations on prevention and control of money laundering of enterprises trading in the purchase and sale of gold bars and gold jewelry in the area.
At the same time, the State Bank has also issued a document requesting the Ministry of Public Security, the Ministry of Finance, and the People's Committees of a number of provinces and cities to coordinate in strengthening inspection and examination of the activities of gold trading enterprises and other entities participating in the market in complying with regulations on gold trading activities, promptly detecting and strictly handling violations of regulations, causing market instability.
At the same time, it is recommended that units direct police agencies and tax authorities of provinces and cities to send personnel to participate in surprise interdisciplinary inspection and examination teams that will be deployed by the State Bank of Vietnam, regional branch in the coming time.
Regarding gold market management, the State Bank will urgently issue a Circular guiding the implementation of Decree No. 232/2025/ND-CP, which specifically guides the registration records of enterprises and commercial banks to carry out procedures for granting licenses for importing gold and producing gold bars.
Regarding inspection and examination, the State Bank will closely coordinate with the Ministry of Public Security, the Government Inspectorate, local authorities and relevant agencies in inspecting and examining gold trading enterprises in the area.
Concluding the meeting, Deputy Prime Minister Ho Duc Phoc requested that competent agencies focus on combating smuggling of gold products, preventing the import of smuggled gold; conduct inspections of gold trading activities in accordance with the Prime Minister's instructions...
Proposing the State Bank of Vietnam to immediately open an electronic information page on gold prices to make gold prices transparent; research to establish a gold exchange; in September, a circular must be issued to guide Decree 232/2025/ND-CP...
Regarding monetary policy management, the Deputy Prime Minister requested scientific, reasonable and flexible management; suggested that the State Bank should reasonably control deposits and loans; try to operate to keep the current loan interest rate level; direct credit to priority areas; strictly control the cash flow of commercial banks, especially real estate lending banks at large rates.
The Deputy Prime Minister suggested that the State Bank focus on inspecting and examining signs of cross-ownership; using short-term loans for long-term loans exceeding regulations.
For the Ministry of Finance, the Deputy Prime Minister proposed to focus on managing, inspecting and controlling margin lending activities (custodian positions); strictly controlling the issuance of individual corporate bonds; urging businesses to pay due bonds; strengthening the management of gold purchase and sale invoices; studying tax issues for buying and selling activities, gold, and anti-gold speculation.
