“There should be measures to encourage, promote, and ensure safety for those more in markets that can underpin economic growth, such as the stock market and corporate bond market,” says Associate Professor Dr. Nguyen Huu Huan, University of Economics Ho Chi Minh City, in an interview with The Saigon Times. Controlling the power of “market makers” The Saigon Times: For decades, there has remained a wide gap between global and local prices of gold. However, since the issuance of Decree 24/2012 on gold market management, according to economic experts, the price gap has been widening, with the local price briefly VND18 million per tael higher than the global price. What is the cause of this situation, and to what extent did Decree 24/2012 contribute to this gap? – Dr. Nguyen Huu Huan: The wide price gap is seen only between domestic SJC gold and the world gold. Decree 24/2012 stipulates that the State has the exclusive right to produce SJC gold, export raw gold, and import raw gold for SJC gold production. SJC gold is selected as the national gold brand. However, since 2014, the State Bank of Vietnam (SBV) has not imported raw gold for SJC gold production. With […]
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