State bank gives nod to additional gold import

The State Bank of Vietnam has allowed gold businesses and banks to import an additional 3.5 tonnes of gold in 2008, bringing the yearly quota to 73.5 tonnes.

Accordingly, the Jewelry Company of the Bank for Agriculture and Rural Development of Vietnam and the Saigon Thuong Tin Joint Stock Bank get a 1 tonne quota each.

The Dong A Joint Stock Bank, the Phu Tho SJC Jewelry Company and the Doji Trade, Investment and Jewelry Joint Stock Company each receives an additional quota of 500kg.

According to the Vietnam Gold Business Association, Vietnamese businesses have imported nearly 40 tonnes of gold so far this year, 15 tonnes of which were imported by the Saigon Jewelry Company (SJC) alone.

The State Bank of Vietnam has also allowed the Nam A Joint Stock Bank and the Doji Trade, Investment and Jewelry Company to trade gold using bank accounts abroad.

VNA

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