Economists have long advocated such an exchange, arguing it would make gold trading more accessible and align domestic prices more closely with global markets. — VNA/VNS
HANOI: Vietnamese Prime Minister Pham Minh Chinh has instructed the State Bank of Vietnam (SBV) to complete a dossier on establishing a national gold trading platform, part of a broader push to secure double‑digit economic growth in 2026.
The directive, set out in Official Dispatch No. 6, outlines key tasks for meeting growth targets in the first year of the 2026 to 2030 socio‑economic development plan.
Pham said 2026 would mark the start of a new development phase, requiring closer coordination between fiscal, monetary and other macroeconomic policies to maintain stability while accelerating growth.
The central bank has been told to manage interest and exchange rates in line with economic conditions, control inflation, stabilise the Vietnam dong, and channel credit towards production, priority industries, social housing, infrastructure and digital technology.
SBV must also expedite the restructuring of weak credit institutions, resolve bad debts and prevent new risks from emerging.
A priority task is to finalise research and assessments for the creation of a national gold exchange or trading centre, and report to the Government Standing Committee within January.
Economists have long advocated such an exchange, arguing it would make gold trading more accessible and align domestic prices more closely with global markets.
Ngo Tri Long, an economic expert, said a well‑designed exchange would establish a publicly listed reference price tied to international benchmarks, ending the current situation where traders set their own rates.
This, he said, would make domestic pricing more transparent and reflective of genuine supply and demand rather than speculation or vested interests.
Dinh Nho Bang, chairman of the Vietnam Gold Business Association, pointed to international experience in China and India, where gold exchanges help secure raw materials for jewellery production, create jobs and generate foreign currency earnings. — Viet Nam News/ANN
