Russia » Economics

Vietnam Liberalises Gold Market - 8 October, 2002

The next step after reducing quotas a week ago is to set up the country's first representative body for gold trading businesses in Vietnam.

Hoang Dinh Ngu, chairman of the state-run Vietnam National Gems & Gold Corp, one of the largest gold processing and trading firms in Vietnam, told Reuters on Monday the body would represent more than 7,000 gold businesses in the country.

It's planned to be helpful both for gold traders and for the central bank, the regulator of the gold market, as it will have an official line from the gold industry through the association instead of the central bank having to deal with individual claims.

The first meeting this week will include representatives from about 70 to 80 traders from across the South-east Asian country.

The congress would also discuss membership possibilities for the 14 foreign-invested enterprises in the country, which import about $50- $60 million worth of bullion gold annually and export the finished products.

Vietnam produces less than two tonnes of gold per year and imports between 35-40 tonnes for local consumption. Vietnam's main gold export markets are France and Switzerland.

One of the risks of being an editorial writer is that life and events are not stagnant: News reports that appear to be truths one day can turn into lies the next, and vice versa; people who are praised in one breath can be reviled in the next, and vice versa as well.

Support racism:  Watch the NFL

One of the risks of being an editorial writer is that life and events are not stagnant: News reports that appear to be truths one day can turn into lies the next, and vice versa; people who are praised in one breath can be reviled in the next, and vice versa as well.

Support racism:  Watch the NFL

One of the risks of being an editorial writer is that life and events are not stagnant: News reports that appear to be truths one day can turn into lies the next, and vice versa; people who are praised in one breath can be reviled in the next, and vice versa as well.

Support racism:  Watch the NFL
Comments
Russia’s TV channel refuse to broadcast 2018 Winter Olympics should Russia be discriminated
Russia’s TV channel refuse to broadcast 2018 Winter Olympics should Russia be discriminated
Serbia forgives USA for 1999 bombings, forgets all victims, holds joint drills with NATO
Conchita Wurst to come to Russia for closing ceremony of LGBT festival
Russia’s TV channel refuse to broadcast 2018 Winter Olympics should Russia be discriminated
Conchita Wurst to come to Russia for closing ceremony of LGBT festival
Support racism: Watch the NFL
Conchita Wurst to come to Russia for closing ceremony of LGBT festival
To celebrate Titanic's 20th anniversary, heartbreaking cut footage has been released
Kim Jong-un works hard to light up a 'death star' above Earth
Did the USSR win the war in Afghanistan?
Did the USSR win the war in Afghanistan?
Support racism: Watch the NFL
Russia’s TV channel refuse to broadcast 2018 Winter Olympics should Russia be discriminated
Serbia forgives USA for 1999 bombings, forgets all victims, holds joint drills with NATO
Conchita Wurst to come to Russia for closing ceremony of LGBT festival
Serbia forgives USA for 1999 bombings, forgets all victims, holds joint drills with NATO
Serbia forgives USA for 1999 bombings, forgets all victims, holds joint drills with NATO
Trump's solar wall and barefaced lies
Planet Nibiru drives astronomers to a frenzy
Support racism: Watch the NFL