Le Viêt Nam, aujourd'hui

Vietnam is hoarding between 460 and 1,000 tonnes of gold worth around $21 to $45 billion, second only to India, according to figures released last week.

Vietnam, like some other frontier markets, seemed to be remarkably unaffected by the deepening economic problems in the US and Europe over recent weeks.

Amid a host of deep-seated economic problems, Vietnam's large trade deficit shows no sign of abating. But the "Vietnam effect" helped Switzerland to post a record monthly trade surplus in May, according to Swiss customs.

New regulations relating to gold management are being considered by the State bank of Vietnam, including the possible narrowing of the bar gold market. Gold companies now have to think about their business in the future.

HANOI—Vietnam will impose price controls on certain commodities in an effort to tame inflation that has surged to the double digits, Prime Minister Nguyen Tan Dung said. He also urged the central bank to stabilize the dollar rate and gold prices.

The Vietnam government said Wednesday it continues to be confronted with rising price pressures and faces an uphill battle trying to keep inflation in single digits by year's end, but it remains determined to stabilize the economy.

The State Bank of Vietnam (SBV) has granted permission to import gold for 10 businesses with the total volume of about three tonnes, leading domestic gold price to be closer to the international gold price. This move has also slowed down the increasing momentum of dollar price.

Vietnam gold exchanges said they would close far ahead of the government’s deadline due to a halting decline in trading volumes.

Hanoi - Vietnam Airlines has suspended three flight attendants after they were seized by South Korean customs authorities while trying to smuggle undeclared gold jewellery out of the country, a company spokesman said Friday.