Question:
Our company is a foreign-invested enterprise and currently wishes to apply for a license to import raw gold for resale to enterprises engaged in processing gold, jewelry, and fine arts in Vietnam. May we ask whether the current laws allow us to carry out this activity?
Answer:
Pursuant to Article 14 of Decree No. 24/2012/ND-CP, the State Bank only grants licenses for the import of raw gold to enterprises with the capacity to produce gold, jewelry, and fine arts, and that have been issued a certificate of eligibility to produce gold jewelry and fine arts. As from October 10, 2025, under Clause 1, Article 9 of Decree No. 232/2025/ND-CP, foreign-invested enterprises shall only be granted licenses to import raw gold when meeting the following two conditions:
- Being an enterprise registered to engage in the production of gold jewelry and fine arts.
- The demand for importing raw gold must be consistent with the processing contracts for gold jewelry and fine arts.
Therefore, enterprises intending to import raw gold for resale to enterprises engaged in processing gold jewelry and fine arts must rely on the above criteria in order to be granted an import license for raw gold.
Consultation: Banking and Finance Law Services
