Vietnam now requires non-cash payment for gold purchases and sales valued at VND5 million or more within a day. The Government News portal reported the provision on October 17 under Decree 390/2026, effective from October 16.
The threshold concerns daily transaction value rather than only one purchase. The decree refers to lawful non-cash payment instruments, not exclusively one specific form of bank transfer.
Raw-gold management changes
The decree revises import licensing for registered jewellery producers and processors with foreign contracts. Raw-gold import needs must match the relevant processing and export arrangements.
For foreign-invested enterprises, the State Bank considers production capacity, contract performance and available previous-year export reports when reviewing annual licences.
Businesses must also maintain complete information on imported raw gold, including purchases, sales, use and inventories, and provide connected data as required.
Oversight and transition
The State Bank retains inspection responsibilities within its remit for bullion production, trading and gold imports and exports. The science and technology ministry's responsibilities cover standards, measurement and quality.
The decree removes provisions under the former jewellery-production certification regime. Earlier State Bank production certificates cease to be a prerequisite, and pending applications are discontinued with notification to applicants.
Existing import and export licences and quotas continue according to their stated contents and validity unless amended or revoked.
These changes are already effective. The cashless-payment requirement remains tied to the stated daily threshold, rather than establishing a prohibition on every cash transaction in gold regardless of value.