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| Deputy Prime Minister Le Thanh Long speaks at the 15th National Assembly's ongoing 10th session__Photo: VNA |
The Government is implementing a range of concerted measures to control the gold market, stabilize public sentiment, and address difficulties in the real estate market, aiming for healthy and sustainable development, according to Deputy Prime Minister Le Thanh Long.
Long made the statement on October 30 at the 15th National Assembly's ongoing 10th session, where legislators evaluated the 2025 socio-economic development plan, the plan for 2026, and the results of implementing the NA’s 2021-25 five-year plans for socio-economic development and economic restructuring during its ongoing 10th session on October 30.
Regarding the gold market, the Deputy PM emphasized that prices have surged in recent times. At certain points, the world gold price reached USD 4,380 per ounce, and the gap between domestic and international gold prices sometimes approached VND 20 million (USD 760) per tael, though it occasionally narrowed to just over VND 1 million per tael.
The causes of these fluctuations are primarily the impact of international political developments, inconsistent economic and trade policies in some countries, and the psychological behavior of domestic consumers.
Long stated that the Government has been implementing a range of specific measures to stabilize the gold market. First, monitoring efforts have been strengthened. The Prime Minister has demonstrated his firm viewpoint, saying when the banking inspection agency lacked capacity, the Government Inspectorate would step in. Therefore, several cases have already been or are being handled. At the same time, Decree 24 has been amended to reduce monopoly in gold management, while a gold trading floor is being developed to increase transparency and enhance market control.
According to the Deputy PM, the total gold sale in the first nine months of 2025 reached 23.3 trillion VND.
In the real estate market, housing prices are currently highly volatile and at high levels, making it difficult for people to access housing, Long acknowledging, affirming that the Government recognizes this reality and is taking comprehensive solutions, including amending and supplementing laws on land and the real estate market, and submitting to the National Assembly a resolution on addressing some urgent issues of the Land Law, particularly land valuation mechanisms.
The Government is also promoting the development of social housing, aiming for 1 million units by 2030. According to the Ministry of Construction, 165 projects have been completed with 117,000 homes. If all completed, under-construction, and approved projects are counted, it is expected to meet 60 percent of the target by the end of 2025, the Deputy PM noted.
Regarding public investment disbursement, as of October 23, the Deputy Prime Minister reported a disbursement rate of 51.7 percent, slightly higher than 51.5 percent during the same period last year. In absolute terms, VND 465 trillion has been disbursed, an increase of VND 116 trillion compared to the same period in 2024. However, he agreed with National Assembly deputies that the overall progress still falls short of expectations, despite continuous implementation of administrative measures.- (VNA/VLLF)
