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Ending Monopoly: Vietnam’s Gold Market Opens to Private Players

2025-09-08
Vietnam has ended its state monopoly on gold bullion production, introducing a licensing regime that creates opportunities in bullion, jewelry, and digital platforms, while imposing strict barriers and regulatory challenges. Vietnam has long held a deep cultural and economic connection to the precious metal. Families and businesses rely on it as a store of value and a hedge against currency depreciation, particularly in times of economic uncertainty. It also plays an outsized role in savings, investment, and even informal transactions.
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Vietnam has ended its state monopoly on gold bullion production, introducing a licensing regime that creates opportunities in bullion, jewelry, and digital platforms, while imposing strict barriers and regulatory challenges.

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