Vietnamese Deputy Prime Minister Nguyen Van Thang signed Decree No. 390/2026/ND-CP, which amends and supplements Decree No. 24/2012/ND-CP on the management of gold trading.
The main change concerns cashless payments for gold purchases and sales. When a gold transaction is worth 5 million dong or more in one day, the customer must pay through a cashless payment method under the law on cashless payments.
The decree also changes rules on the export and import of unprocessed gold. Businesses registered to produce and process jewelry and fine-art gold products, and holding processing contracts with foreign companies, may be considered by the State Bank for a license to import unprocessed gold.
Each year, the State Bank will consider issuing licenses to import unprocessed gold to foreign-invested businesses. It will take into account production capacity, performance under jewelry processing or export contracts, and the previous year's report on jewelry and fine-art gold exports.
The decree also calls for an information system to fully and accurately process and store data on the export, import, purchase, sale, use and inventory of imported unprocessed gold. The system will also process transaction data for unprocessed gold and connect with the State Bank to provide information under rules set by the State Bank governor.
The State Bank will inspect and supervise, within its regulatory authority, the production and trading of gold bars, the export and import of gold bars and unprocessed gold, and compliance with rules on licensing, quotas, reporting, and the purchase, sale and use of imported unprocessed gold and gold-trading activities.
The decree also adds responsibilities for the Ministry of Science and Technology in the gold-trading sector.
Together with the State Bank and other relevant agencies, the ministry is responsible for developing and publishing national standards for jewelry, fine-art gold products and gold bars. It will also control and manage measurement and quality for jewelry, gold bars and unprocessed gold in production, imports and market circulation, and inspect measuring equipment used by gold-trading businesses.
The new rules also require businesses and commercial banks engaged in gold trading to report on the production, purchase and sale of gold bars; gold exports and imports; the purchase, sale, use and inventory of imported unprocessed gold; the performance of processing and export contracts for jewelry and fine-art gold products when a business has been licensed to import unprocessed gold; and the sale of imported unprocessed gold under rules set by the State Bank and other competent authorities.
Decree No. 390/2026/ND-CP repeals all rules on the production, processing, purchase and sale of jewelry and fine-art gold products. A certificate of eligibility for producing jewelry and fine-art gold products issued by the State Bank before the decree took effect is no longer a condition for organizations or individuals to produce those products.
The decree took effect on October 16.
Sources: Dân Trí
