Dinar Daily
Welcome to Dinar Daily Discussions.

Logging in with your USERNAME allows you to participate in discussions, see what has recently been posted, and other options. Guests have limited abilities.

We are NOT a guru forum. We are a dinarian forum. The opinions expressed on the forum do not reflect the of opinion of Dinar Daily specifically, but rather reflect the views of the individual posters only.

Disclamer:

We are in compliance with, "Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use."




Join Us for Dinar Discussions and More -- We Keep it REAL
 
HomeSearchFAQLog inRegister
YOU MUST Sign in with your USERNAME to POST
Follow us on TWITTER
DINAR INFORMATION LINKS

PARTNER SITES
Key Words
Adam Montana, AdminBill, Benjamin Fulford, Currency Exchange, David Schmidt, Dinar, Dinar Guru, Dinar Recaps, Dinar Rv, Dinar Scam, Dr Clarke, Frank26, Gary Larrabee, Gurus, Guru Hunters, JerzyBabkowski, Kaperoni, Kenny, Monetary Reform, Mnt Goat, My Ladies, Okie, Poppy, RamblerNash, Ray Renfrow, Redenomination, Revaluation, Ssmith, TNTBS, Tnt Tony, WING IT, We Are The People, Willis Clark, WSOMN, Yosef, Zap
Share | 
 

 Draft Decree on Gold Trading Management to Create Monopoly in Local Gold Market: Bao Tin Minh Chau CEO

View previous topic View next topic Go down 
AuthorMessage
lexie
Elite Member
Elite Member
avatar

Posts : 1812
Join date : 2011-06-24

PostSubject: Draft Decree on Gold Trading Management to Create Monopoly in Local Gold Market: Bao Tin Minh Chau CEO   Wed Nov 02, 2011 9:54 am

November 2, 2011

Draft Decree on Gold Trading Management to Create Monopoly in Local Gold Market: Bao Tin Minh Chau CEO

Nguyen Minh Chau, CEO of Bao Tin Minh Chau expressed his worry that the government’s draft decree would naturally make SJC the only player in the domestic gold bullion production as SJC was the single qualified bullion producer under central bank’s requirements.


Other gold traders were obviously disqualified Chau went on, saying that the SJC alone represented over 90% market shares in gold bullion production.


There was time when 8 currently-licensed gold producers together failed to meet the demand of local residents, let alone 1 gold bullion producer, Chau commented, adding that the required charted capital of VND500 billion was a big amount for local gold trading firms.


Many gold traders will be at loss when the draft decree takes effect, said the PNJ’s representative, explaining that they previously invested intensively in technology to produce bullion gold.


Some gold traders said they would invest more in jewelry gold as the draft decree imposed no regulations for jewelry gold trading, the local online newspaper Dat Viet reported.


The State Bank of Vietnam submitted to the government a draft decree on gold trading management, stipulating that local gold traders will be granted license to produce gold bullion if they meet all requirements of the central bank, including: having more than VND500 billion of charted capital and accounting for at least 25% market shares in gold production for 3 consecutive years.


http://www.vietfinancenews.com/2011/11/draft-decree-on-gold-trading-management.html


*****************
"WHEN THE POWER OF LOVE OVERCOMES THE LOVE OF POWER, THE WORLD WILL KNOW PEACE"
Back to top Go down
View user profile
 
Draft Decree on Gold Trading Management to Create Monopoly in Local Gold Market: Bao Tin Minh Chau CEO
View previous topic View next topic Back to top 
Page 1 of 1

Permissions in this forum:You cannot reply to topics in this forum
Dinar Daily :: OTHER INVESTMENTS :: OTHER CURRENCIES - DONG - ZIM - YUAN - etc-
Jump to: