Tariff exempted for central bank’s material gold

Tariff exempted for central bank’s material gold

VGP – PM Nguyen Tan Dung has signed a Decision to exempt tariff for material gold imported and exported by the State Bank of Viet Nam (SBV) as from March 15, 2014.

The Decision was made to meet the demand for exporting gold bar overseas and importing material gold at international standard of the SBV.

It is expected to make it easier for the SBV in material gold import and export to produce gold bar to stabilize the domestic gold market.

Earlier, Decree No. 24/2012/NĐ-CP on the management of gold trading stipulates that there will be a government monopoly of bullion production and of the import and export of raw materials for gold bar production.

By Thuy Dung

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