Vietnam implements new gold transaction regulations

Effective October 16, 2026, Decree 390/2026/NĐ-CP introduces significant changes to the management of gold business activities in Vietnam. A key provision mandates that all gold transactions totaling 5 million VND ($193) or more per day must be conducted via non-cash payment methods, such as bank transfers, QR code scans, or bank cards. This represents a substantial decrease from the previous threshold of 20 million VND.

Additionally, the decree removes the requirement for businesses to hold a certificate of eligibility for the production of gold jewelry and fine art issued by the State Bank of Vietnam. While this lowers entry barriers for jewelry production, the government is simultaneously tightening oversight regarding transparency, tax compliance, anti-money laundering measures, and data management.

Major gold retailers, including Phu Quy, Bao Tin Man Hai, and Bao Tin Minh Chau, have begun notifying customers of these changes. Some businesses have expressed concerns regarding the technicalities of verifying identities when using certain digital payment methods, though the law broadly permits various non-cash options.