When accessing capital from the banking system, organizations and individuals must meet the conditions and standards for borrowing and must have the ability to repay the debt.
In addition to the issue of capital and interest rates, delegate Do Huy Khanh (Dong Nai delegation) raised the issue that many countries in the world allow the establishment of gold trading floors, attracting gold resources, bringing many opportunities for domestic investors. Does the State Bank have a plan to propose to the Government to establish a gold trading floor?
Regarding this question, the Governor said that some countries have established gold exchanges such as China established a gold exchange in Shanghai. However, in the region there are still some countries that have not established one.
"The establishment of the exchange has some positive points such as transactions will be transparent, making the buying and selling needs of people and businesses more convenient. However, to establish the exchange also requires investment in infrastructure" - Governor Nguyen Thi Hong commented.
According to the leader of the State Bank, Vietnam is not a gold producing country like China. To establish a gold trading floor, the State Bank will work with ministries and branches to carefully study and evaluate the impact to advise and propose to the Government at the appropriate time.
Meanwhile, regarding gold market management, delegate Tran Thi Thanh Huong (An Giang delegation) said that recently, due to the participation of many ministries and sectors in management and poor coordination, the efficiency has not been high. This delegate asked the Governor of the State Bank to provide solutions to more effectively implement this issue in the coming time.
Responding to delegates, the Governor said that before the State Bank organized gold intervention, the State Bank held a meeting and invited representatives of agencies, especially the Ministry of Public Security, to support and monitor the implementation process to avoid profiteering and fraud during the intervention process.
The State Bank also plays the leading and focal role in coordinating with the Ministry of Industry and Trade, the Ministry of Science and Technology and relevant agencies to inspect businesses trading in gold bars and gold jewelry, thereby promptly advising the Government to issue a Decree to overcome limitations and difficulties and strictly manage this market.
Explaining further about the issue of gold market management, Party Central Committee member, Deputy Prime Minister, Minister of Finance Ho Duc Phoc said that in the coming time, he will direct the management of gold trading in a transparent and legal manner; apply information technology to manage gold companies and gold shops; fight against gold smuggling; promote production and business, and amend Decree 24.
"We will strictly manage this field" - the Deputy Prime Minister emphasized.
