While reforms to the mechanisms for gold bar production and importation are essential, they are insufficient on their own. To effectively unlock the vast gold reserves held by the public for economic development, policy should be adopted from a long-term perspective and backed by a coherent and synchronized roadmap for reform. Central to this vision is the creation of a comprehensive gold ecosystem, featuring a centralized trading exchange, derivative instruments, and a transparent data infrastructure. The gold market must evolve beyond serving merely as a repository of assets and instead become an integrated, dynamic component of the national financial system. After more than a decade of enforcement, the need to revise Decree 24/2012/ND-CP on the management of gold trading has become urgent, garnering significant attention from experts, businesses, and the general public. The proposed amendment—outlined in the draft decree—seeks to eliminate the monopoly on gold bar production and allow controlled expansion of gold imports. A key issue highlighted in this reform is the persistent and substantial disparity between domestic and international gold prices. However, adjusting the mechanisms governing the physical supply and demand of gold addresses only part of the challenge. To foster a stable and transparent gold market that […]
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