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Prime Minister: No Manipulation of Gold Market, Probe Possible Stock Price Inflation

At the regular August Government meeting held on September 6, Prime Minister Phạm Minh Chính emphasized that authorities must closely monitor market developments, strictly prevent any manipulation in the gold market, and investigate whether there has been price inflation in the stock market.

Comprehensive review of socio-economic performance

The meeting focused on assessing the country’s socio-economic situation in August and the first eight months of 2025, progress in disbursing public investment, social welfare measures, administrative reforms, as well as key tasks and solutions for the remaining months of the year.

In his opening remarks, the Prime Minister highlighted the complex global context: ongoing military conflicts, rising political instability, intensifying trade disputes—particularly after the U.S. imposed counter-tariffs—alongside sharp fluctuations in gold, real estate, and global financial markets, all of which have had significant impacts on Vietnam.

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Despite these challenges, Vietnam’s macroeconomic fundamentals remain stable. Major national events such as the 80th anniversary of the August Revolution and National Day were celebrated successfully, creating an atmosphere of unity, patriotism, and public confidence.

Gold and stock markets under close scrutiny

The Prime Minister noted the sharp increase in domestic gold prices and warned of potential risks. He directed relevant agencies to act decisively, ensuring no hoarding, price manipulation, or artificial inflation occurs.

Regarding the stock market, he stressed the need to determine whether recent fluctuations were the result of speculative price-pumping. If capital is flowing into production and business, he said, it is a positive sign—but any market manipulation must be strictly addressed. He also tasked the Ministry of Construction with paying special attention to developments in the real estate sector.

Driving growth through reforms and innovation

The Prime Minister set an ambitious growth target of 8.3–8.5% for 2025, underscoring that this goal must be achieved despite difficulties. He pointed to patriotism, public trust, and innovation as the nation’s strongest driving forces, which should be further promoted.

To meet growth targets, he called on ministries and sectors to:

  • Review and simplify administrative procedures, cutting at least 30% in time, quantity, and cost.

  • Resolve long-standing stalled projects.

  • Promote domestic consumption and trade through major events, including the upcoming autumn fair and New Year fair leading up to the 2026 Lunar New Year.

Ensuring social welfare and tackling external shocks

The Prime Minister stressed that policies must prioritize people’s well-being, from ensuring nutritious school lunches and reducing tuition fees to strengthening healthcare and education systems. At the same time, the government must be prepared to respond effectively to external shocks, climate change, and natural disasters.

He concluded by demanding immediate and strict action against negative practices such as market manipulation, hoarding, artificial price hikes, and counterfeit goods, affirming that these issues cannot be tolerated.

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