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Gold bullion traders

Gold bullion traders reputation danger of business stop in Vietnam. A heaps of gold bar traders are visage the danger of business stop and only Saigon Jewelry Joint Stock Co (SJC) may be allowed to trade in  this section, according to a new regulation draft on gold management, the local newswire VnExpress reported.Under the draft, only the companies that have chartered capital of at least 500 billion dong and account for 25% market share in most recent 3 years may be considered to be permitted to produce and process gold bar. SJC, occupying 90% of gold bar trading market share in Vietnam, is able to qualify the requirement.

Therefore, remaining 7 traders including Phu Nhuan Jewelry Joint Stock Company (PNJ), Bao Tin Minh Chau Gold Company, Asia Commercial JS Bank (ACB), Sacombank and Southern Bank, and two arms of Agribank may be unlisted in the trading section.

In addition, the draft also rules that only those who have minimum charter capital of 100 billion dong and branches in at least three big cities and provinces will be allowed to trade gold bar. So, over 10,000 small gold bar traders mostly may not be permitted to continue doing business any more.