Viet Nam ends State monopoly on gold bar production
VGP - The Vietnamese Government promulgated Decree No. 232/2025/ND-CP dated August 26, 2025 amending and supplementing several articles of Decree 24/2012/ND-CP dated April 3, 2012 on management of gold business activities.
Under Decree 232, the Government officially ended the State monopoly on gold bar production, export and import of gold materials for gold production.
With this policy, private enterprises and commercial banks can apply for a license from the State Bank of Viet Nam to produce gold bars as gold bar production shall be conditional business line.
A business shall only be licensed to produce gold bars if it meets the following conditions:
a) Having certificate to trade in gold bars;
b) Having charter capital of at least one trillion Viet Nam Dong;
c) Not having been sanctioned for administrative violations in gold trading activities or having fully implemented decisions on administrative sanctions issued by State agencies.
d) Having internal regulations on gold bar production, including regulations on import of gold materials, gold production supervision, and quality control.
A commercial bank shall be licensed to produce gold bars if it meets the following conditions:
a) Having certificate to trade in gold bars:
b) Having charter capital of at least VND50,000 billion;
c) Not having been sanctioned for administrative violations in gold trading activities or having fully implemented decisions on administrative sanctions issued by State agencies.
d) Having internal regulations on gold bar production, including regulations on import of gold materials, production supervision, and quality control.
The Governor of the State Bank of Viet Nam shall decide and announce procedures for licensing gold bar production.
Gold price reached all-time high of VND127.7 million per tael on August 26./.
