Central bank to fix gold import-export quotas annually

By Quynh Trang September 29, 2025 | 07:31 pm PT

The State Bank of Vietnam will set quotas for the export and import of raw gold and bullion annually based on demand from producers and distributors.

Any business wishing to produce gold ingots must apply to it by Nov. 15 the previous year stating the quantity needed, according to a new circular.

Gold bars in a jewelry story in HCMC in March 2024. Photo by VnExpress/Quynh Tran

The central bank will consider the application and notify its approval or refusal within five working days.

It will establish a council for setting gold import and export quotas.

The council will appraise all applications for import and export and announce the quotas by Dec. 15.

Businesses would need to report on source of imports and transaction volumes and values.

In the second quarter, Vietnam ranked second in Southeast Asia in gold bar demand at 9.5 tonnes, nearly four times the demand of Malaysia and Singapore, according to the World Gold Council.

However, Vietnam was the only market to see a decline, with sales falling 20% year-on-year. Thailand led the region at 10 tonnes.