Propose to tighten the origin of raw gold

Currently, most enterprises buy unknown material in the market to manufacture gold jewelry so they don't have invoice. Souece: Internet

According to the State Bank's HCMC Branch, the majority of enterprises produce gold jewelry and fine art by using unknown raw materials bought from the market. Therefore, few enterprises have invoices for input materials. This causes many enterprises to fall into the situation that always face legal risks related to illegal gold trading.

Therefore, the State Bank's HCMC Branch propose to the State Bank to coordinate with the Ministry of Finance, and Ministry of Industry and Trade to stipulate the legal documents of the origin of raw materials such as gold jewelry buy back from customers or the source of raw gold without invoices.

Earlier, the People's Committee of HCMC also sent a similar proposal to the State Bank. Besides the provisions about using gold bars bought from organizations, it is permitted to trade gold bars for producing gold jewelry and fine art, it needs to stipulate legal documents of different sources of raw gold such as gold jewelry buy back from customers, other sources of raw gold, etc.

According to the People's Committee of HCMC, currently, the gap between the domestic and world gold price has decreased. However, there are times when the gap between domestic and world gold price are very big, thus it is a chance for importing gold illegally from abroad or the domestic gold price is lower than the world price so the phenomenon of exporting gold illegally will occur. Besides that, the regulations about the origins of raw gold are not written in detail. Therefore, the identification of raw gold is a serious issue for concern.