Economists warned that a plan to reduce the number of gold producers can lead to a supply shortage and the emergence of a black market, news website VnExpress reported Monday.
The warnings came after the central bank introduced a draft decree, which requires gold bar producers to have a capital of at least VND500 billion (US$23.8 million) and a minimum market share of 25 percent.
The new requirements mean Ho Chi Minh City-based SJC, the country’s largest gold company, will be the only producer left standing because it holds more than 90 percent of the market.
Thanhniennews.com
