Vietnam Gold Trader Association Objects to New Proposal

Source:

"The SBV's proposal will force local firms to cut gold purity further, while possibly raising production costs."

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Vietnam Gold Tradersí Association does not share the same view point with the State Bank of Vietnam (SBV) on the central bank's proposal of reducing taxable gold purity to 80% from current 99%.

The SBV's proposal will force local firms to cut gold purity further to enjoy duty-free export, yet it may result in higher production costs and a waste of social resources, the VGTA pointed out, adding that the proposed regulation may create favorable conditions for illegal gold export if gold exporters canít afford higher costs. . .View full article

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