HANOI, August 26, 2025 – Vietnam's economy is currently navigating a complex landscape of market volatility and proactive government intervention, marked by domestic gold prices soaring to unprecedented heights, decisive central bank action to stabilize the currency, and new fiscal policies aimed at supporting the business community.
This morning, the price of SJC-branded gold bullion continued its relentless climb, surging past the historic milestone of VND 127 million per tael (approximately USD 4,830 per 37.5 grams). This new record high reflects sustained investor demand for the precious metal as a safe-haven asset amidst both global and domestic economic uncertainties. The persistent upward trend has further widened the already significant gap between domestic SJC gold prices and international rates, a long-standing point of concern for market regulators.
In response to fluctuations in the broader financial markets, particularly the foreign exchange market, the State Bank of Vietnam (SBV) has taken active measures to cool down the USD/VND exchange rate. Through strategic market interventions, the central bank has worked to stabilize the Vietnamese Dong, reaffirming its commitment to managing inflation and ensuring macroeconomic stability. These moves are crucial for controlling the cost of imports, managing foreign debt, and maintaining investor confidence in the national currency.
On the fiscal policy front, the Vietnamese government is moving forward with significant measures to provide relief to the business sector. In an effort to stimulate economic activity and support production, the government is reviewing a proposal to implement a 30% reduction in land rent for businesses and individuals throughout 2025.
This proposed relief package, which has been under consideration by the Ministry of Finance, aims to lower operating costs for enterprises, thereby encouraging investment, expansion, and job creation. The measure is seen as a vital tool to help businesses navigate current challenges and contribute to the nation's overall economic growth targets for the coming year.
Together, these developments paint a picture of a dynamic economy in transition. While soaring gold prices highlight underlying investor caution, the proactive stance of both the State Bank and the government demonstrates a coordinated strategy to maintain stability, control market pressures, and foster a supportive environment for sustainable business growth.
