On October 30, Deputy Prime Minister Le Thanh Long addressed the National Assembly, clarifying key issues raised during the discussion on the socio-economic situation in 2025 and the 2021-2025 period. He provided updates on the establishment of a gold trading platform and the management of the real estate market.
Deputy Prime Minister Le Thanh Long addressing the National Assembly on October 30. Photo: Pham Thang
Regarding the gold market, the Deputy Prime Minister noted that global gold prices reached nearly $4,400 per ounce, with the price gap between international and domestic markets fluctuating between $1,000 and $20,000.
He attributed the gold price volatility to geopolitical tensions and shifts in trade policies, alongside domestic market psychology.
To address these challenges, the Government has directed the State Bank of Vietnam and relevant ministries to closely monitor the situation. The Prime Minister has ordered inspections of gold trading activities, involving the State Bank Inspectorate and the Government Inspectorate.
Additionally, the Government has amended Decree 24 on gold trading, eliminating the monopoly on gold bars. Plans are underway to establish a gold trading platform to enhance market transparency.
On the real estate front, the Deputy Prime Minister acknowledged the surge in property prices, making it difficult for citizens to afford housing. In response, the Government has implemented comprehensive measures, including revisions to land, real estate, and housing regulations.
During this session, the Government will submit a draft resolution to amend land-related provisions, including land pricing. Deputy Prime Minister Le Thanh Long emphasized that the implementation of the 1 million social housing units project will help address current real estate market inefficiencies and housing affordability issues. According to the Ministry of Construction, 165 social housing projects have been completed, providing 117,000 units.
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