VGTA: Driving Growth and Connection in Vietnam’s Gold Market
Thu Mar 06 2025
From shaping policy to fostering international collaboration, the Vietnam Gold Traders Association (VGTA) has been a cornerstone of Vietnam’s gold market for over two decades. Founding member Huynh Trung Khanh shares how this dynamic organisation is driving change and connecting Vietnam to the global gold community.
For over two decades, the Vietnam Gold Traders Association (VGTA) has played a pivotal role in shaping Vietnam’s gold market, advocating for policy improvements, and fostering international cooperation.
As a non-profit NGO licensed by Vietnam’s Ministry of Interior, VGTA represents a powerful coalition of 108 members, including major gold enterprises such as Saigon Jewelry Company (SJC), Phu Nhuan Jewelry Company (PNJ), and DOJI Group, as well as commercial banks like Asia Commercial Bank (ACB), VietinBank, Eximbank, and TP Bank. The association also collaborates with foreign associate members, including Pranda Vietnam, TOMEI Vietnam, Brinks VN, and Malca-Amit VN.
Advocating for a Thriving Gold Industry
One of VGTA’s key missions is to serve as a bridge between its members and government agencies, particularly the State Bank of Vietnam (SBV). In response to the regulatory constraints imposed by Decree 24, which grants SBV a monopoly over gold raw material imports and gold tael bar production, VGTA has continuously engaged in policy discussions to ease restrictions and promote a more dynamic gold market.
Beyond advocacy, VGTA ensures its members stay informed about global market trends. Through the publication of Gold World magazine and weekly news bulletins, the association provides crucial insights into international gold developments.
Through the publication of Gold World magazine and weekly news bulletins, the association provides crucial insights into international gold developments.
Additionally, VGTA organises trade delegations to major international fairs such as the Hong Kong Jewelry Fair, Bangkok Jewelry Fair, Vicenza Oro Fair, and JCK Fair. Closer to home, it co-hosts the annual Vietnam International Jewelry Fair in Ho Chi Minh City every November.
Strengthening Global Partnerships
To enhance Vietnam’s position in the global gold market, VGTA has actively fostered international collaborations. Over the years, the association has built strong ties with industry bodies like the World Gold Council (WGC), Singapore Bullion Market Association (SBMA), Thailand Gold Traders Association (TGTA), and China Gold Association (CGA).
These partnerships have facilitated knowledge exchange and business cooperation, benefiting both Vietnamese and international stakeholders.
Recent highlights underscore the VGTA’s growing influence:
Looking Ahead
As Vietnam’s gold market continues to evolve, VGTA remains committed to advocating for favourable policies, expanding global partnerships, and equipping its members with the insights needed to thrive in an increasingly complex industry.
With a forward-looking strategy set for the next five years, VGTA aims to reinforce its role as a key driver of Vietnam’s gold industry, ensuring its members stay competitive on the global stage.
Source: https://sbma.org.sg/