On December 6, concluding the regular Government meeting in November, Politburo member and Prime Minister Pham Minh Chinh emphasized that gold prices fluctuated strongly; although the real estate market situation has gradually improved, real estate prices are still high; social housing development has not been as expected.
Regarding monetary policy, the Prime Minister requested the State Bank to preside over focusing on controlling inflation according to the set goals; operating appropriate interest rate and exchange rate policies, ensuring the value of the Vietnamese currency; focusing credit capital on production and business, growth drivers.
The State Bank directs commercial banks to effectively implement credit packages for priority sectors such as social housing, preferential loans for young people under the age of 35, strategic infrastructure development, and flood recovery.
The Government's collection also requires strict credit control for areas with potential risks, including the real estate sector, to prevent risks for each credit institution and system risks.
Notably, the head of the Government requested to urgently submit to competent authorities on the research and establishment of a gold trading floor in December 2025.
Another important task is to focus on removing difficulties and obstacles for long-standing projects. The State Bank effectively implements the plan to handle weak commercial banks.
The Prime Minister requested the State Bank to handle the restructuring of SCB Bank in December 2025.
The Ministry of Finance, the standing agency of Steering Committee 751, is preparing to immediately deploy mechanisms and solutions to resolve nearly 3,000 backlog projects after being approved by the Politburo.
Previously, at a seminar on the establishment of a gold exchange in Vietnam organized by the State Bank on October 15, Mr. Dao Xuan Tuan - Director of the Foreign Exchange Management Department - said that the State Bank is considering 3 model options:
First, establish a National Gold Exchange.
Second, allow gold to be traded on the Commodity Exchange.
Third, establish a gold exchange in the International Financial Center in Vietnam.
All are aimed at creating a modern gold trading center with a synchronous payment, storage and technology infrastructure, effectively mobilizing gold resources among the people.
It is expected that the pilot will be divided into 3 phases, flexibly adjusted according to actual implementation. The first phase has not been connected to the international gold exchange to ensure risk control.
Researching and considering the establishment of a gold trading floor is a synchronous step, aiming to perfect institutions, make trading activities transparent, limit free trading situations beyond control, and strengthen the role of State management. In addition, the formation of a gold exchange also helps provide transparent data for analysis, forecasting, and policy making.
