Tuesday, 4th May 2004 (2700 views)

Latest figures have shown that this year Vietnam has imported over 15 tonnes of gold.

The increase is attributed to a high local market gold price, whilst prices for the precious metal on the world market have experienced a steep drop, according to the Vietnam News Agency.

Also helping to boost value is the fact that gold smuggling has been reduced thanks to a reduction in the gold import tariff and granting of import quotas.

At present the local gold price is five per cent more than the world market, standing at least 400,000 VND per tael.

Figures are based on findings from the State Bank from the first four months of this year.

 

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