Monday, 11th December 2006 (2904 views)

New projects to help regulate control in the Vietnamese gold market have been delayed, according to recent reports.

Officials have blamed a lack of cooperation between regulatory bodies and some of the 3,000 businesses which deal in gold for causing the delay, as the government attempts to establish a national trading centre to cope with the demand for the metal.

The centre is due to eventually provide a strong base for investment and a unified gold price with quality standards, but the recent lack of cooperation has meant that traders could be at risk of fraud and price speculation, according to the Viet Nam News.

Various warehouses are due to be constructed across the country, with one owned by Agribank's Jewelry already established.

Another project aimed at establishing market continuity through a regulations training programme is also yet to get off the ground. The project was due to begin in October 2005, but various difficulties have meant the start date has been back still further.

 

« Back to the stories

 

The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.