DNVN - Deputy Prime Minister Ho Duc Phoc said that in the near future, the demand for investment in the economy is very large, especially investment in technical infrastructure. These projects will provide a huge source of credit and promote the development of the real estate market.
What is the effective solution to control gold prices?
Explaining and clarifying further about gold market management at the question and answer session of the 8th Session Program on the afternoon of November 11, Deputy Prime Minister and Minister of Finance Ho Duc Phoc stated that gold is now not a measure of currency but is still a precious metal and a safe "haven" for idle money. Therefore, in the coming time, the Ministry of Finance will continue to implement many solutions to strictly manage the gold market.
The price of gold bars has recently increased to 18 million VND/tael, which is an increase of 25% compared to the world gold price. However, currently, the price of gold bars is only 3 - 4 million VND/tael, which is an increase of about 4 - 5% compared to the world gold price. There are many reasons for the increase in domestic gold prices in recent times, including high world gold prices, supply being less than demand and people's psychology of hoarding gold.
Bank interest rates are low, real estate is "frozen" and prices are high, so people do not want to invest through these channels. Production and business also face many difficulties, individual corporate bonds also have risks, so gold can be considered a shelter for idle money. This is a factor leading to fluctuations in domestic gold prices in recent times.
Regarding solutions to control gold prices, the Deputy Prime Minister said that the Government has directed gold trading activities to be legal and transparent. At the same time, he requested that gold market management agencies apply information technology in managing and monitoring the market, while stepping up the fight against smuggling.
Authorities have discovered two smuggling rings with more than 6 tons of gold. In particular, in October and November this year, at the Noi Bai International Airport border gate, authorities discovered and arrested several cases of gold smuggling, including cases carrying 6-7kg of gold, and one case carrying 3kg of gold.
“In the coming time, the authorities need to continue to prevent gold smuggling more effectively. At the same time, promote production and business and promote the development of the capital market,” Mr. Phoc emphasized.
Investment in technical infrastructure will be huge.
Regarding the prospects for the scale of the domestic economy, the Deputy Prime Minister said that in the near future, the demand for investment in the economy is very large, especially investment in technical infrastructure. Specifically, the expressway project that the Prime Minister requested must reach 5,000km, 5 times more than in previous years; the North-South high-speed railway project and programs to combat climate change, equitable energy transition, etc.
“These projects will provide a huge source of credit and promote the development of the real estate market. The upcoming solution is to mobilize not only domestic capital but also foreign official development assistance (ODA) capital, including through the form of public-private partnership (PPP) to promote economic development,” said the Deputy Prime Minister.
Ha Anh
Source: https://doanhnghiepvn.vn/kinh-te/nhan-dien-dong-luc-se-giup-thuc-day-thi-truong-bat-dong-san-phat-trien/20241111045719162
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