The State Bank of Vietnam has officially released a list of over 800 licensed locations in Ho Chi Minh City authorized to buy and sell SJC gold bars. These outlets primarily include business units operated by major banks and enterprises such as Sacombank, Eximbank, HDBank, ACB, Nam A Bank, PNJ, and Mi Hong.

The State Bank’s Region 2 branch issued a formal notice to organizations and local authorities across the city, outlining guidelines for gold trading activities.

According to the regulator, recent months have seen significant volatility in both domestic and international gold prices, with repeated surges breaking previous records.

To strengthen market oversight and minimize non-market influences that could undermine efforts to stabilize the gold market, the Region 2 branch has asked local organizations and businesses to step up public communications about gold trading and the legal framework governing gold bar transactions. These efforts aim to reduce risks and prevent violations of the law.

The directive emphasizes that individuals should only buy and sell SJC gold bars at credit institutions and enterprises that hold official licenses from the State Bank of Vietnam.

Jewelry and fine art gold businesses are not authorized to conduct gold bar transactions. Any such activity conducted by unauthorized individuals or organizations violates current regulations.

Therefore, those who trade gold bars without a license or do so through unlicensed institutions are subject to penalties under existing law.

Additionally, gold-related enterprises involved in the production, sale, or trading of jewelry and bullion must strictly comply with licensing regulations. These include possessing valid operating permits, certificates confirming eligibility to produce fine gold jewelry, adequate infrastructure, approved business plans, gold bar trading licenses, complete invoices and documentation, clear product origin, verified product quality, and publicly posted pricing.

The State Bank of Vietnam affirms that adherence to legal standards, transparency, and compliance are the shared responsibility of both businesses and individuals. Such practices help reduce legal and financial risks, especially those associated with counterfeit goods, smuggling, and tax evasion.

Regulators also warn the public to be cautious when buying or investing in gold, as rapid price fluctuations may expose them to significant losses.

Proper compliance with legal provisions by both enterprises and citizens will play a vital role in ensuring a stable gold market and reducing speculation and manipulative practices that could negatively impact the economy.

The Region 2 branch also attached a full list of licensed gold bar trading locations in Ho Chi Minh City to the official document.

Tran Chung