The Vietnam Chamber of Commerce and Industry (VCCI) has recommended eliminating the requirement for gold import-export licences in a recent response to the State Bank of Vietnam (SBV)’s draft decree amending Decree 24/2012 on gold trading management. VCCI argues that since gold production enterprises are already tightly regulated and licensed by the SBV, requiring an additional import-export licence is redundant and adds unnecessary bureaucracy and costs.VCCI also raised concerns over the draft’s proposed condition that gold bar producers must have a minimum charter capital of VNĐ1 trillion, calling it excessively restrictive. Such a high threshold would exclude most enterprises, reduce market competition, and limit consumer choices due to a lack of diverse suppliers.Regarding gold jewellery and handicrafts, VCCI disagreed with maintaining current business conditions, stating that it contradicts the government’s strategy to promote Vietnam as a gold jewellery manufacturing and export hub. VCCI urged the SBV to remove these business condition requirements to better align with the national goal of developing a competitive domestic gold market. (ICE HO CHI MINH CITY)

Fonte notizia: Vietnam News