The State Bank of Vietnam has published an overview of Vietnam Government Decree 232/2025 amending the rules for managing gold business under Decree 24/2012, notably expanding the regulatory scope to explicitly cover gold bar production and moving from a monopoly model to an SBV licensing regime. The amendments also introduce mandatory settlement via bank payment accounts for higher-value gold purchases and sales. Gold bars are defined as stamped gold products showing weight and quality and bearing identifying marks of an enterprise or commercial bank permitted by the SBV, alongside gold bars produced by the SBV in each period, with terminology updated from “credit institution” to “commercial bank” to align with the Law on Credit Institutions and to limit gold bar production and gold export and import permissions to commercial banks. Gold bar production becomes a conditional business activity requiring an SBV licence, with eligibility conditions including an existing gold bar trading licence, minimum charter capital of VND 1,000 billion for enterprises or VND 50,000 billion for commercial banks, compliance history requirements for gold business administrative sanctions, and internal rules covering raw material intake, production, supervision and quality control. For gold transactions, purchases and sales valued at VND 20 million or more in a day per customer must be paid through the customer’s payment account and the gold trader’s payment account opened at a commercial bank or a branch of a foreign bank. Additional obligations include electronic invoicing and data retention for sales of raw gold materials, expanded disclosure, data-storage and warranty responsibilities for gold bar producers, public posting of gold bar buy and sell prices with connected reporting to the SBV, a ban on agency-based gold bar trading, and requirements to build information systems and connect specified production and transaction data to the SBV. The Governor of the State Bank of Vietnam will specify the dossier and procedure for granting gold bar production licences and the detailed requirements for information connectivity to the SBV.
State Bank of Vietnam 2025-08-26
State Bank of Vietnam outlines decree introducing SBV licensing for gold bar production and bank-account settlement for gold trades of VND 20 million or more per day
The State Bank of Vietnam amended Decree 24/2012 via Decree 232/2025, expanding regulations to include gold bar production under a licensing regime. Changes include mandatory bank account settlements for gold transactions over VND 20 million, updated terminology to "commercial bank," and specific eligibility conditions for gold bar production licences. Additional obligations involve electronic invoicing, data retention, and reporting requirements for gold bar producers.