Deputy Prime Minister Nguyen Hoa Binh has directed the Government Inspectorate to lead a joint inspection into compliance with laws and regulations by credit institutions and enterprises involved in gold trading. The inspection team is to be established on September 9, 2025.

The directive was conveyed through Official Dispatch No. 8390/VPCP-V.I issued by the Government Office, reflecting concerns about recent volatility in Vietnam’s gold market.

According to the directive, the Government Inspectorate will coordinate with the Ministry of Industry and Trade, the Ministry of Finance, the Ministry of Public Security, and the State Bank of Vietnam to urgently conduct inspections. The investigation will cover adherence to regulations on gold trading, anti-money laundering, the issuance and use of invoices and related documents, and other related issues.

The official dispatch emphasized: “If signs of legal violations are detected during inspections, information and documents must be immediately transferred to the police. The results of the inspections must be reported to the Prime Minister by the end of September 2025.”

The State Bank of Vietnam was instructed to urgently adopt strict measures to strengthen regulatory oversight, ensuring a safe, transparent, and sustainable gold market. The government stressed that fluctuations in gold prices must not be allowed to destabilize financial markets, monetary security, or macroeconomic stability. The central bank must submit weekly market reports to the Prime Minister and Deputy Prime Minister before 11 a.m. every Friday.

The Ministry of Public Security was also tasked with directing law enforcement forces to work with the State Bank and relevant agencies to immediately enforce measures against violations in the gold market. The directive underlined that violations such as gold smuggling, fraud, tax evasion, profiteering, illegal trading, hoarding, and market manipulation must be dealt with “without compromise.”

PV