Vietnam to import less gold this year: report

Vietnam is estimated to import 75-80 tons of gold this year, down from over 86 tons of the precious metal, according to local newspaper Saigon Liberation on Thursday.

Over the past three years, Vietnam has annually imported more than 70 tons of gold, input for production and trading of jewelry and some other forms of the precious metal.

The first gold bonded warehouse in Vietnam was established by the Jewelry and Gems Company under the Vietnam Bank for Agriculture and Rural Development on June 25. The warehouse in Hanoi capital is capable of storing 7-8 tons of gold.

The Saigon Jewelry and Gems Company will launch its gold bonded warehouse in southern Ho Chi Minh City on June 29.

Source: Xinhua