The Government of Vietnam has issued Decree 390/2026/ND-CP to amend and supplement specific articles of Decree 24/2012/ND-CP regarding the management of gold business activities. The new decree, signed by Deputy Prime Minister Nguyen Van Thang, updates regulations on gold bar production, trading, and import permits, taking effect on October 16, 2026.
New Rules for Gold Bar Production and Trading
Decree 390/2026/ND-CP clarifies that gold bar production and trading are conditional business activities requiring licenses from the State Bank of Vietnam. The document specifies that enterprises and commercial banks producing gold bars may trade gold material, provided they operate under this decree.
The management of gold trading activities aims to promote the stable and sustainable development of the gold market. Meanwhile, the production, processing, and trading of gold jewelry and art crafts are not classified as conditional business investment sectors. Organizations and individuals in this field must comply with laws on quality, standards, measurement, fire prevention, and consumer protection.
Another significant change involves cashless payments. Payments for gold trading with a value of VND 5 million or more per day by a customer must be made through his/her cashless payment instruments in accordance with the law on cashless payment.
Import and Export Regulations
Decree 390/2026/ND-CP modifies the conditions for granting permits for gold material import to foreign-invested enterprises. The State Bank may consider granting these permits annually based on the enterprise’s production capacity, performance of processing or exporting contracts, and reports on export activities from the preceding year.
An enterprise registered to produce and process gold jewelry and art crafts, and having a contract for processing gold jewelry and art crafts with a foreign party shall be considered by the State Bank for the grant of the permit for gold material import for performance of the processing contract and export of the processed products, provided that its demand for importing gold material is consistent with such contract.
The export and import of certain forms of gold are also addressed. The decree specifies that gold material in forms such as powder, solution, solder flakes, gold salts, wire, tubes, and semi-finished gold jewelry, as well as gold used as raw materials for electronic components and medical equipment, must be carried out in accordance with enterprise registration certificates, customs law, and specialized laws.
Reporting Requirements and Transitional Provisions
The decree repeals several specific articles and clauses. Articles 5, 6, 7, 8, and 9 are repealed. These repeals remove previously existing provisions from the legal framework.
Implementation Details
A key transitional provision applies to certificates of eligibility for the production of gold jewelry and art crafts. Certificates granted by the State Bank before this effective date no longer constitute a condition for organizations and individuals to engage in this production.
For applications for certificates submitted before the effective date but not yet processed, the State Bank will terminate the processing.
Existing permits for gold import and export, as well as quotas for gold material export and import, determined before the effective date, continue to be valid. These permits remain in force unless they are modified or revoked according to law. Any new grants, modifications, or renewals after the effective date must comply with the new decree.