The State Bank of Vietnam must preside over and promptly complete the issuance of an inspection plan. No later than May 17, it must announce the inspection decision to conduct an inspection of the gold market.
Gold jewelry on display at Bao Tin Manh Hai Gold Company. (Photo: Tran Viet/VNA)
The Government Office has just issued Notice No. 221/TB-VPCP dated May 15, 2024, concluding the conclusion of Deputy Prime Minister Le Minh Khai at a meeting with the collective leadership of the State Bank of Vietnam on solutions to manage the gold market in the coming time.
Specifically, the Deputy Prime Minister requested the State Bank of Vietnam and relevant ministries and agencies, according to their assigned functions, tasks and authorities, to continue to resolutely, seriously, fully and effectively implement tasks and solutions to manage the gold market both in the short and long term according to the direction of the Government, the Prime Minister, and Government leaders in Resolutions, Official Dispatches, Directives and related documents, ensuring that the gold market operates stably, effectively, healthily, publicly, transparently, in accordance with legal regulations, and not to gold-ify the economy and affect macroeconomic stability.
No later than May 17, the decision to inspect the gold market will be announced.
Pursuant to the functions, tasks and authority stipulated in Decree No. 24/2012/ND-CP of the Government on the management of gold trading activities and Article 18 of Decree No. 50/2014/ND-CP of the Government on the management of state foreign exchange reserves (which clearly stipulates that the Governor of the State Bank of Vietnam decides on specific intervention plans including: timing, volume, gold price, form of intervention...) and relevant legal provisions, the State Bank of Vietnam shall preside over and coordinate with relevant ministries, agencies and localities to proactively deploy tools and solutions for management, operation and stabilization of the gold market in a more appropriate, timely and effective manner, immediately overcoming the situation of high and unreasonable difference between domestic and world gold prices, ensuring effectiveness, efficiency, closeness to practical situations, and compliance with legal provisions; promptly reporting and proposing to competent authorities issues arising beyond its authority.
The State Bank of Vietnam shall preside over and coordinate with relevant ministries, agencies and localities to urgently complete and issue an inspection plan. No later than May 17, the inspection decision must be announced according to regulations to immediately conduct inspections and examinations of the gold market, stores, distributors, buyers and sellers of gold bars and other entities participating in the market, without further delay; strictly handle violations of legal regulations in gold production and trading. In case of signs of law violations, promptly transfer the dossier to the Ministry of Public Security and relevant agencies for strict handling according to regulations; report to the Prime Minister the inspection results in May 2024.
The State Bank of Vietnam closely coordinates with the Central Propaganda Department, the Ministry of Information and Communications and relevant agencies to effectively carry out information and communication work, promptly providing official and authentic information on macroeconomic management, monetary policy and gold market activities to stabilize people's psychology and ensure social order and safety.
At the same time, continue to thoroughly review, evaluate and summarize the implementation of Decree No. 24/2012/ND-CP of the Government on the management of gold trading activities, consult relevant ministries, branches, localities, and subjects directly affected according to regulations, consult experts, refer to international experience to assess the impact and propose competent authorities to consider amending and supplementing policies and regulations to enhance the effectiveness and efficiency of state management tools for the gold market and ensure the development goals of the gold market according to the Party's policies and relevant laws and policies.
Strictly implement regulations on electronic invoices for each gold purchase and sale.
The Deputy Prime Minister assigned the Ministry of Finance to preside over and coordinate with the State Bank of Vietnam and relevant agencies to inspect, supervise, and strictly implement regulations on electronic invoices for each time in gold trading, buying and selling activities at enterprises and gold trading units, to be completed no later than the second quarter of 2024; and to have sanctions to strictly handle violations.
Many people queue up to buy and sell gold at Bao Tin Minh Chau gold shop. (Photo: Hoang Hieu/VNA)
Ministries and agencies: Public Security, National Defense, Finance, Industry and Trade, Government Inspectorate and relevant agencies resolutely direct functional units, border guards, tax, customs, market management... to immediately strengthen the implementation of timely and effective measures according to assigned functions and tasks to stabilize the gold market, put gold production and trading activities into operation according to the provisions of Decree No. 24/2012/ND-CP of the Government and other relevant legal provisions; strengthen inspection, supervision and strictly handle violations according to regulations, especially smuggling, illegal import, profiteering, speculation, manipulation, price hike, illegal competition...
The People's Committee of Ho Chi Minh City directed Saigon Jewelry Company Limited - SJC to strictly comply with legal regulations on gold trading activities and related laws, and proactively implement market stabilization measures under the direction of the State Bank of Vietnam.
The Government Office monitors and urges according to assigned functions and tasks./.
According to Vietnam+
Source
Comment (0)