Inspection of law compliance by gold trading enterprises to be tightened

Illustrative image (Photo: VNA)

In a Government Office document, Binh assigned the Government Inspectorate to coordinate with the Ministry of Industry and Trade, the Ministry of Finance, the Ministry of Public Security, and the State Bank of Vietnam, to soon establish an inspection team on September 9.

If signs of legal violations are detected during the inspection, information and dossiers must be immediately transferred to the Ministry of Public Security; and the inspection results are to be reported to the Prime Minister within September.

The State Bank of Vietnam was requested to urgently, firmly, and decisively implement solutions and measures to enhance the efficiency and effectiveness of state management in order to ensure a safe, healthy, efficient, and sustainable gold market, and absolutely prevent gold price fluctuations from affecting the stability and safety of the financial and monetary markets as well as macroeconomic stability. It was also required to report to the PM and the Permanent Deputy PM on gold market developments weekly, before 11am every Friday.

The Ministry of Public Security, within its authority and responsibility, will direct relevant forces to work with the central bank and related agencies, to immediately implement professional measures to strictly and promptly handle violations of the law related to the gold market and gold trading activities. In particular, uncompromising action must be taken against acts of smuggling, fraud, tax evasion, speculation for profiteering, illegal trading, hoarding, and gold market manipulation, the document said./.

VNA

Source: https://en.vietnamplus.vn/inspection-of-law-compliance-by-gold-trading-enterprises-to-be-tightened-post326175.vnp