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Importing Gold of Vietnam from 2012 to 2016

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HO CHI MINH CITY UNIVERSITY OF FOREIGN LANGUAGES AND INFORMATION TECHNOLOGY

DEPARTMENT OF INTERNATIONAL BUSINESS ADMINISTRATION

[pic 1]

REPORT

THE STATUS OF IMPORTING GOLD OF VIETNAM FROM 2012 TO 2016

Instructor: Châu Thế Hữu

        Members of group:  

        Lê Ngọc Linh

        Phạm Huyền Trâm

        Nguyễn Minh Quân        

Ho Chi Minh City, (April, 2017)

Contents

INTRODUCTION        2

CHAPTER 1: THE STATUS OF IMPORTING GOLD OF VIETNAM FROM 2012 TO 2016        3

1.1.        THE STATUS OF IMPORTING GOLD OF VIETNAM FROM 2012 TO 2016        3

1.1.1.        VALUE AND AMOUNT OF IMPORTING:        3

1.1.2.        Imports structure        10

1.1.4        Importing prices        16

1.1.5        Mode of payment        19

1.1.6. Gold import procedures        24

1.2 Assessment of importing gold        25

1.2.1 Strengths        25

1.2.2 Weaknesses        26

CHAPTER 2: SOLUTTION TO CONTROLL QUALITY AND QUANTITY OF GOLD        28

CONLUTION        30

REFERENCE        32


INTRODUCTION

Along with the economic renovation process and the development of the market economy In Vietnam, the role of gold is associated with the ups and downs of the economy. Moreover, the monetary role of gold is evident in the economic downturn, with inflation at galloping pace. For the Government, gold is used as a tool to stabilize the value of VND and to contribute to the fight against inflation. For the people, it is the storing tool and gold jewelry. On the other hand, for enterprises, it is the payment instrument and transaction tool with the foreign currency (mainly US dollars). At present, The gold market fluctuations vigorously and the decline with no signs of recovery that reflect the uncertainty of the global economy. So people are rushing to invest in gold as a way to counter potential risks such as stock market downturn, prolonged freezing real estate...

Because of the strong effects of gold on many aspects of life, we would like to research about importing gold to understand that how to importing gold impact on the market. The analysis of the instability of gold and the process of import and export of gold, the advantage of the management structure of gold market of the state is very urgent and necessary at this time. To make this report, The research team has consulted reliable sources such as the people's newspaper, the trade magazine, and mainly from the General Statistics Office. The process follows the steps below:

CHAPTER 1: The status of importing gold of VietNam from 2012 to 2016:

  1. The status of importing gold of VietNam from 2012 to 2016

Our team searched the statistics on the GSO website. Then, analyze the numbers in every year. The next step, learn the customs procedures and payment methods.

  1. Assessment of importing gold

In this section, we have provided general comments on the figures given. Of which, the import of gold have both strengths and weaknesses.

CHAPTER 2: Solution: How to controll quality and quantity of gold

CHAPTER 1: THE STATUS OF IMPORTING GOLD OF VIETNAM FROM 2012 TO 2016

  1. THE STATUS OF IMPORTING GOLD OF VIETNAM FROM 2012 TO 2016
  1. VALUE AND AMOUNT OF IMPORTING:

Unit: USD

NAME OF COUNTRY

HS CODE

Value in 2015

Value in 2014

Value in 2013

Value in 2012

GREAT BRITAIN

7108

1,287

AUSTRIA

7108

124,990

UNITED ARAB MIRATES

7108

41,996,138

33,444,707

32,400,422

20,519,881

CANADA

7108

1,871,729

1,515,039

839,865

946,304

DENMARK

7108

287,168

156,295

42,726

107,034

GERMAN

7108

5,892

KOREA

7108

9,549,744

14,840,637

14,336,224

14,436,702

HONG KONG

7108

33,212,440

24,209,962

21,251,031

21,411,480

ITALY

7108

508,672

311,178

632,915

LIECHTENSTEIN

7108

20,859

8,227

RUSSIA

7108

3,788

MALAYSIA

7108

2,455,712

2,379,062

1,151,449

202,980

THE UNITED STATE

7108

3,048,676

12,689,918

2,644,414

246,1480

JAPAN

7108

12,248,541

14,361,792

16,005,584

14,762,201

AUSTRALIA

7108

13,194,252

14,736,094

14,608,249

14,220,013

FRANCE

7108

4,768,956

7,621,755

10,422,683

9,277,886

THAILAN

7108

551,166

585,513

165,590

479,164

SWITZERLAND

7108

809,959

4,604

334,129

110,431

CHINA

7108

394,109

405,927

245,737

UNDISTRIBUTED AREA CLEARLY WHERE

7108

1,421

32,329

SINGAPORE

7108

1,566,428

771,003

2,885,823

593,864

Table 1.1.1A: the value of importing gold from 2012 -2015

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