The Ministry of Finance is to start a process to study the effect of a tax on gold transactions, Deputy Minister of Finance Nguyen Duc Chi has said.

Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu has said the central bank will strengthen credit growth supervision, ensure policy supports businesses, while guaranteeing credit safety and quality for commercial banks.

The State does not encourage the trading of gold bars, protect their prices, nor accept too large differences between domestic and global gold prices, and between SJC and other types of gold bars, said Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu.

Commercial banks should diversify their loan products, lower interest rates and simplify procedures to improve accessibility to official credit channels in an effort to keep people away from illegal sources, Deputy Governor of the State Bank of Vietnam Dao Minh Tu said.

Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu, who is also head of the trade union of Vietnamese banks, met with a trade union delegation of Belarus’s finance-banking sector in Hanoi on May 22.