Decree 232/2025/ND-CP amend Decree 24/2012/ND-CP on gold business management

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ATTRIBUTE

Decree No. 232/2025/ND-CP dated August 26, 2025 of the Government amending and supplementing a number of articles of the Government’s Decree No. 24/2012/ND-CP dated April 03, 2012, on management of gold business activities
Issuing body: GovernmentEffective date:
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Official number:232/2025/ND-CPSigner:Ho Duc Phoc
Type:DecreeExpiry date:Updating
Issuing date:26/08/2025Effect status:
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Fields:Commerce - Advertising

SUMMARY

New Regulations on Gold Business Management from October 10, 2025

On August 26, 2025, the Government issued Decree No. 232/2025/ND-CP amending and supplementing a number of articles of the Government’s Decree No. 24/2012/ND-CP dated April 03, 2012, on management of gold business activities. This Decree takes effect on October 10, 2025.

The Decree regulates activities related to gold trading, including the production, processing, buying and selling of gold jewelry, art craft, gold bars, the import and export of gold, and other gold trading activities.

- Regulations on Gold Trading Activities

The Decree clearly stipulates that gold trading activities such as the production, buying, and selling of gold bars and gold jewelry, art craft are conditional business activities and must be licensed by the State Bank.

Derivative activities related to gold by commercial banks are also regulated under the provisions of the Law on Credit Institutions.

- Conditions for Issuing Gold Bar Production Licenses

Enterprises and commercial banks wishing to obtain a Gold Bar Production License must meet conditions such as:

  • Possessing a license for trading gold bars

  • Meeting the minimum charter capital requirement

  • Not having administrative violations in gold trading activities

  • Having internal regulations on gold bar production.

- Regulations on Gold Import and Export

The State Bank will issue quotas and licenses to enterprises and commercial banks for the import and export of gold bars and gold material.

The import and export of gold material must comply with specific conditions and are exempt from taxes as decided by the Prime Minister.

Additionally, organizations permitted to produce and trade gold bars must comply with regulations on product standards, warranties, data storage, and information provision to the State Bank. They must also publicly list the buying and selling prices of gold bars and are not allowed to conduct business through authorized agents.

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THE GOVERNMENT
_______
No. 232/2025/ND-CP

THE SOCIALIST REPUBLIC OF VIETNAM
Independence - Freedom - Happiness

_______________________
Hanoi, August 26, 2025

DECREE

Amending and supplementing a number of articles of the Government’s Decree No. 24/2012/ND-CP dated April 03, 2012, on management of gold business activities

 

Pursuant to the Law on Organization of the Government No. 63/2025/QH15;

Pursuant to the Law on the State Bank of Vietnam No. 46/2010/QH12;

Pursuant to the Law on Credit Institutions No. 32/2024/QH15;

Pursuant to the Law on Foreign Trade Management No. 05/2017/QH14;

Pursuant to the Commercial Law No. 36/2005/QH11;

Pursuant to the Law on Enterprises No. 59/2020/QH14, amended and supplemented under Law No. 76/2025/QH15;

Pursuant to the Law on Investment No. 61/2020/QH14, amended and supplemented under Law No. 57/2024/QH15 and Law No. 90/2025/QH15;

At the proposal of the Governor of the State Bank of Vietnam;

The Government hereby promulgates the Decree amending and supplementing a number of articles of the Government’s Decree No. 24/2012/ND-CP dated April 03, 2012, on management of gold business activities.

 

Article 1. Amending and supplementing a number of articles of the Government’s Decree No. 24/2012/ND-CP dated April 03, 2012, on management of gold business activities

1. To amend and supplement Clause 1, Article 1 as follows:

“1. This Decree provides for gold business activities, including: Activities of gold jewelry and art crafts production and processing; gold jewelry and art craft trading; gold bar production; gold bar trading; gold export and import and other gold business activities, including gold account trading activities and gold derivative activities.”

2. To amend and supplement Clause 2, Article 3 as follows:

“2. Gold bar means a gold product cast into a bar, imprinted with letters, numerals indicating weight and quality, and bearing the code mark of the enterprise or commercial bank licensed by the State Bank of Vietnam (hereinafter referred to as the State Bank) for production; or gold bar produced by the State Bank from time to time.”

3. To amend and supplement Clauses 6 and 8, Article 4 as follows:

“6. Gold bar production; gold bar trading; gold jewelry and art crafts production activities are conditional business activities and must be licensed by the State Bank with a gold bar production license, a gold bar trading license, and a certificate of eligibility for gold jewelry and art crafts production. The activities of trading gold material by enterprises and commercial banks producing gold bars shall be carried out in accordance with this Decree.”

“8. Gold derivative activities of commercial banks and foreign banks branches shall be carried out in accordance with Article 112 of the Law on Credit Institutions.”

4. To add Clause 10, Article 4 as follows:

“10. Payments for gold trading with a value of VND 20 million or more per day by a customer must be made through his/her payment account and the payment account of the gold trading enterprise opened at a commercial bank or a foreign bank branch.”

5. To add Clause 5a, Article 6 as follows:

“5a. When selling gold material purchased from enterprises or commercial banks specified in Article 11a of this Decree, an e-invoice must be issued and used in accordance with the law; transaction data of gold material sales must be fully and accurately stored; information must be connected and provided to the State Bank in accordance with regulations of the Governor of the State Bank.”

6. To amend the title of Chapter III as follows:

“Chapter III. GOLD BAR PRODUCTION AND TRADING”

7. To add Article 11a after Article 11 as follows:

“Article 11a. Conditions for licensing gold bar production

1. An enterprise shall be considered for licensing the production of gold bars by the State Bank when it fully meets the following conditions:

a) Possessing a gold bar trading license;

b) Having a charter capital of at least VND 1,000 billion;

c) Having not been administratively sanctioned for violations in gold trading activities or, having fully implemented remedial measures under the decision on administrative sanctions and the recommendations with an implementation deadline stated in the inspection or examination conclusions of competent state agencies (if any), in case of having been administratively sanctioned for violations in gold trading activities;

d) Having internal regulations on gold bar production, including the basic contents such as the process of material input; the process of gold bar production; the process of production supervision; and the process of product quality control.

2. A commercial bank shall be considered for licensing the production of gold bars by the State Bank when it fully meets the following conditions:

a) Possessing a gold bar trading license;

b) Having a charter capital of at least VND 50,000 billion;

c) Having not been administratively sanctioned for violations in gold trading activities or, having fully implemented remedial measures under the decision on administrative sanctions and the recommendations with an implementation deadline stated in the inspection or examination conclusions of competent state agencies (if any), in case of having been administratively sanctioned for violations in gold trading activities;

d) Having internal regulations on gold bar production, including the basic contents such as the process of material input; the process of gold bar production; the process of production supervision; and the process of product quality control.

3. The Governor of the State Bank shall provide regulations on dossiers and procedures for licensing the production of gold bars.”

8. To amend and supplement Article 12 as follows:

“Article 12. Responsibility of organizations licensed for producing and trading gold bars

1. To produce and trade in the type of gold bars specified in Clause 2, Article 3 of this Decree.

2. To abide by the law on accounting regimes, issuance and use of invoices and documents.

3. In addition to provisions of Clauses 1, 2 and 5 of this Article, enterprises and commercial banks producing golds bars shall:

a) Publicly announce the applicable standards, weight, and fineness of the products in accordance with law and take legal responsibility for ensuring that the weight and fineness of the produced products conform to the announced standards;

b) Bear full responsibility for the gold bar products they produce, provide warranty for gold bar products to customers in accordance with law; fully and accurately store data on produced gold bars;

c) Develop an information system for processing and storing data on produced gold bars, containing at least the information on input materials, production time, output products; and provide connection to supply such information to the State Bank in accordance with regulations of the Governor of the State Bank.

4. In addition to provisions of Clauses 1, 2 and 5 of this Article, enterprises and credit institutions trading golds bars shall:

a) Publicly list the purchase and sale prices of gold bars at transaction locations or on their websites and connect to supply information on listed prices to the State Bank;

b) Not be allowed to trade gold bars through authorized agents;

c) Adopt measures and equipment to ensure safety in trading activities;

d) Develop internal regulations on gold bar trading, which shall clearly stipulate the process of gold bar transactions with customers; publicly announce information on customers’ rights and obligations on websites of enterprises and credit institutions, or publicly post at their transaction offices; fully and accurately store data on gold bar transactions;

dd) Develop an information system for processing and storing data on gold bar transactions, containing at least the information on identity information of individuals, enterprise tax identification numbers, transaction volume and value of buyers and sellers; and provide connection to supply such information to the State Bank in accordance with regulations of the Governor of the State Bank.

5. To comply with the provisions of this Decree and relevant laws.”

9. To amend and supplement Article 14 as follows:

“Article 14. Gold import and export

1. The State Bank shall grant annual quotas and one-time permits to enterprises and commercial banks as prescribed in Article 11a of this Decree for the export and import of gold bars; and annual quotas and one-time permits to enterprises and commercial banks as prescribed in Article 11a of this Decree for gold material import.

2. Based on monetary policy objectives and gold supply and demand in each period, the State Bank shall grant permits for gold material import to enterprises under Clauses 4, 5, and 6 of this Article and grant permits for gold material export to enterprises licensed for gold mining under Clause 7 of this Article. Enterprises prescribed in Clauses 4, 5, and 7 of this Article must satisfy the conditions specified at Point c, Clause 1, Article 11a of this Decree.

3. The export and import of gold materials by the State Bank shall be exempted from export and import duties under decisions of the Prime Minister.

4. A gold trading enterprise having a contract for processing gold jewelry and art crafts with a foreign party shall be considered by the State Bank for the grant of permits for gold material temporary import for re-export of products upon satisfying the following conditions:

a) Having a certificate of eligibility for production of gold jewelry and art crafts granted by the State Bank;

b) Its gold material import demand matching the contract to process gold jewelry and art crafts for a foreign party.

5. Annually, the State Bank shall consider granting permits for gold material import to foreign-invested enterprises based on production capacity and reports on the export of gold jewelry and fine arts of the previous year (if any) upon satisfying the following conditions:

a) Being an enterprise registered for the production of gold jewelry and art crafts;

b) The enterprise’s gold material import demand matching the contract to process gold jewelry and art crafts.

6. An enterprise making offshore investment in gold mining that wishes to import gold exploited itself in other country shall be consider granting a gold material import permit by the State Bank, when satisfying the following conditions:

a) It is an enterprise having registered gold mining business as indicated in its investment certificate;

b) The gold material to be imported is exploited overseas by the enterprise or is its shared product under the agreement on gold mining overseas.

7. An enterprise obtaining a gold mining license shall be considered granting an export permit for its exploited gold materials by the State Bank when satisfying the following conditions:

a) Being a foreign-invested enterprise that possesses a gold mining license;

b) The gold material to be exported is exploited domestically by the enterprise.

8. The export and import of gold material in the forms of powder, solution, solder flakes, gold salts, and gold jewelry in semi-finished form shall be carried out under enterprise registration certificates.

9. The Governor of the State Bank shall prescribe the dossiers, procedures for the grant of gold export and import permits, and the validity period of such permits.

10. Responsibilities of enterprises and commercial banks licensed for gold export and import as provided in Clause 1 of this Article:

a) To import only gold bars and gold material with a purity of 99.5% or higher;

b) To publish the applicable standards, weight, and purity of imported gold bars and gold material in accordance with law and take legal responsibility for the published standards, weight, and purity of the imported products in conformity with the published standards, weight, and purity;

c) To formulate and report to the State Bank internal regulations on export, import, and safety measures in gold export and import activities;

d) To formulate internal regulations on the sale of gold material, ensuring publicity and transparency; to publicly disclose information on the sale of gold material and customers’ rights and obligations; to fully and accurately store data on gold export, import, and gold material purchase and sale transactions;

dd) To use imported gold material for the following purposes:

dd.1) Production of gold bars;

dd.2) Production of gold jewelry and art crafts;

dd.3) Sale to enterprises and commercial banks licensed for gold bar production;

dd.4) Sale to enterprises granted the certificate of eligibility for gold jewelry and art crafts production;

e) To establish an information system for processing and storing data on gold export, import, and gold material purchase and sale transactions with basic contents including information on partners, quantity, purity, and transaction value; and to connect and provide information to the State Bank in accordance with the regulations of the Governor of the State Bank;

g) To comply with the provisions of this Decree and relevant laws.”

10. To amend and supplement Article 16 as follows:

“Article 16. Responsibilities of the State Bank

1. To formulate and submit to competent authorities for promulgation of strategies and plans on gold market development toward market orientation.

2. To formulate and adjust the total annual quotas for gold bar export and import, and gold material import of enterprises and commercial banks specified in Article 11a of this Decree on the basis of:

a) Macroeconomic situation and monetary policy management objectives;

b) Size of state foreign exchange reserves;

c) Situation of gold bar export, import, and gold material import activities.

On the basis of the total annual quotas, the State Bank shall allocate annual quotas to enterprises and commercial banks in accordance with their charter capital; the gold bar and gold material export and import of previous years (if any); and their demand. The Governor of the State Bank shall prescribe the method of allocation of annual quotas to enterprises and commercial banks.

3. The State Bank shall grant, modify, and revoke:

a) Certificates of eligibility for production of gold jewelry and art crafts;

b) Licenses for gold bar production;

c) Gold bar trading licenses;

d) Licenses for gold bar export and import, and gold material import;

dd) Licenses for carrying gold upon exit and entry by individuals in excess of the prescribed limit;

e) Licenses for gold trading activities specified in Clause 9, Article 4 after obtaining approval from the Prime Minister;

g) Quotas for gold bar export and import; and gold material import of enterprises and commercial banks as specified in Article 11a of this Decree.

4. To coordinate with relevant ministries and sectors to establish an information system, formulate and store data on the gold market, and connect to provide information to relevant agencies in order to enhance transparency and effectively support management.

5. To conduct inspection and examination of the production of gold bar, gold jewelry and art crafts; gold bar trading; gold bar and gold material export and import; and gold trading activities specified in Clause 9, Article 4 of this Decree.

6. To publish on the State Bank’s website the buying and selling prices of gold bars provided by enterprises and credit institutions licensed by the State Bank for gold bar trading.

7. To perform other tasks and exercise other powers related to the management of gold trading activities as decided by the Prime Minister.”

11. To amend and supplement Article 17 as follows:

“Article 17. Responsibilities of ministries, ministerial-level agencies and provincial-level People’s Committees

Within the scope of their functions, tasks, and powers, ministries, ministerial-level agencies, and People’s Committees of provinces and centrally run cities shall perform state management of gold trading activities as follows:

1. The Ministry of Industry and Trade shall assume the prime responsibility for, and coordinate with relevant agencies in, performing the function of management and inspection of activities of production and processing of gold jewelry and art crafts; gold jewelry and art crafts trading activities; and the gold trading enterprises’ compliance and observance of the law.

2. The Ministry of Finance shall assume the prime responsibility for, and coordinate with the State Bank in, submitting to competent agencies for promulgation, or promulgating according to its competence, policies on gold export and import duty, value-added tax, excise tax, and income tax applicable to gold trading activities in conformity with each period; and prescribing and guiding the issuance of enterprise registration certificates for gold trading enterprises, and sharing data and information on the issuance of enterprise registration certificates for gold trading enterprises with the State Bank for coordinated implementation.

3. The Ministry of Science and Technology shall assume the prime responsibility for, and coordinate with the State Bank and relevant agencies in, promulgating national standards for gold jewelry and art crafts and gold bars; inspecting and managing measurement and quality of gold jewelry and art crafts, gold bars, and gold material in production, import, and circulation on the market; and calibrating measuring instruments of gold trading enterprises.

4. The Government Inspectorate shall perform the function of inspecting gold production and trading activities in accordance with law.

5. The Ministry of Public Security shall coordinate with ministries and relevant sectors in combating, investigating, and handling crimes and violations of law related to gold trading in accordance with law.

6. People’s Committees of provinces and centrally run cities shall, within the scope of their tasks and powers, perform state management of gold trading activities in their respective localities in accordance with this Decree and other relevant laws. Chairpersons of People’s Committees of provinces and centrally run cities shall direct the implementation of inspection and examination of gold trading activities in their localities. Provincial Inspectorates shall carry out inspection within the scope of state management of provincial-level People’s Committees over gold trading activities.”

12. To amend and supplement Clause 2, Article 19 as follows:

“2. Activities of production, trading of gold bars without a license issued by the State Bank; export and import of gold material and gold bars in contravention of regulations.”

13. To amend and supplement Article 20 as follows:

“Article 20. Reporting regime

Enterprises and commercial banks engaged in gold trading must report on their production and trading of gold jewelry and art crafts, gold bars; import, export and sale of gold material in accordance with regulations of the State Bank and competent agencies.”

Article 2. Repealing Clause 3, Article 4 of the Government’s Decree No. 24/2012/ND-CP of April 3, 2012, on management of gold business activities

Article 3. Effect and implementation responsibility

1. This Decree takes effect from October 10, 2025.

2. Saigon Jewelry Company Limited (hereinafter referred to as SJC) may reprocess gold bars from SJC gold bars which were produced or processed by SJC before the effective date of this Decree, having at least one of the following characteristics: scratched; stamped with additional marks or symbols not belonging to SJC. SJC shall take sole responsibility before law for ensuring that the SJC gold bars being reprocessed are gold bars produced or processed by SJC in accordance with law.

3. The Governor of the State Bank shall provide instructions and organize the implementation of this Decree.

4. Ministers, heads of ministerial-level agencies, heads of government-attached agencies, chairpersons of provincial-level People’s Committees, and related organizations and individuals shall implement this Decree.

 

 

ON BEHALF OF THE GOVERNMENT
FOR THE PRIME MINISTER
THE DEPUTY PRIME MINISTER


Ho Duc Phoc

 

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