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ANH HUONG CUA GIA VANG TANG CAO DEN CHINH SACH TAI CHINH VA HOAT DONG CUA NGAN HANG THU'O'NG MAI
PGS.TS Nguyen Thj Bat Dgi hpc Kinh te Quoc ddn Th.s Nguyen Dire Tii Ngdn hdng Cdng thuang Vipt Nam
Trong nen kinh ti thi tru&ng. sgphdt trien cua thj tru&ng vdng cd vai trd quan trpng, gdp phan xdy dgjig mpt thi tru&ng ldi chinh hodn chinh, ldm gia tdng cdc kenh ddu tu cho cdc nhd dau tu.
O Vipt Nam. nhiing ndm gdn ddy, ciing v&l syphdt triin cua thj tru&ng chiing khodn, thi trudng bat dpng sdn, thi tru&ng vdng cUng ngdy cdng sdi dpng. Song hdnh v&i sir gia tdng cua id lugng nhd ddu tu vd nhu cdu mua bdn vdng, vdi ndm gan day. gid vdng cd xu hu&ng tdng nhanh. Ndm 2011 vd nhiing Ihdng ddu ndm 2012 thj tru&ng vdng bien dpng bdt thu&ng v&i nhirng muc gid ky luc lien tiip dugc thiit lap. S\r bien dpng cua thi tru&ng vdng dd tdc dpng khdng nhd din nin kinh te, dgc biit trong bdi canh khung hodng. Bdi viit ndy se tgp trung phdn tich nguyen nhdn, tdc dpng cua gid vdng tdng cao din chinh sdeh tdi chinh vd hogt dpng ciia ngdn hdng. tir do se de xudt mpt sd gidi phdp cho su phdt trien bin virng cua thf tru&ng vdng Vipt Nam trong th&i gian t&i.
Tir khda: Anb hudng ciia gid vdng tdng cao, Thi trudng vang, chenh lech gid vdng, gid vdng tdng cao.
1. Nhirng bien dgng cua thi t r u ^ g vang va nguyen nhan
l.l. Thf tru&ng vdng quoc te
Gid vang Viet Nam chju tdc dgng nhieu cCia gid vang tbi gidi. Gid vang thi gidi da cd nbiJug budc nhay vgt chua tirng cd, idn ddu ticn trong vdng nhieu nam qua dgt muc 1.868 USD/ounce vao ngdy 19 thdng 8 nam 2011. Vdng dd trd thanh tdi san d$c biet, khdng chi NHTW ma cdc to cbiic tin dyng rat quan tam. Gid vang the gidi tdng do 3 nguyen nhan chinh:
Mpt Id, khung hoang tai chinh toan cau khien nha dau tu tim den vang nhu* mgt cho tru an an toan: Nhan to cbinb kich dgng gia vdng Id Igm pbdt cao d cac nen kinh te. Trong thdi gian qua, ciing vdi cac chiln djch kich thicb tdng trudng kinh tl, cdc NHTW ciia My, Chau Au, Trung Qudc, Nhgt Ban va nhilu nudc khdc da tim each tdng chi tieu, in them tiln mat. Hdng nghin ty USD dugc bom vao nen kinh te toan cdu, khiln Igm phdt tdng vgt.
Mat khdc, cac yeu td qudc te ddy rui ro sau khCing hodng khiln "vang trd thanh tdi sdn dugc ua chugng de tich trft. Chiln dich ndi Idng chinh sdeh tiln t? da khdng the thuc ddy nln kinh tl va giam thdt nghigp 40
d cdc nudc nhu mong muon. Thay vao dd, ludng tien chay sang cdc nen kinh te dang ndi, noi chung dugc do vdo cdc mdt hdng giir gia nbu vdng.
Tgi My, sy mat long tin vao dong USD khien gia trdi philu chinh phii My gidm mgnh vd lai sudt tdng vgt Tgi Chdu Au, ng xau tgi mgt so quoc gia cd bieu bien ngay mgt tram trgng ban, thiic day nbd ddu tu tim den kenh ddu tu vang. Tgi mgt so quoc gia dang phdt trien, chinh phii cdc nudc dang nd lyc chong lgi sy len gia ciia dong ngi tg so vdi USD nen dd tim each mua vdo USD de tdng dy XrH ngogi te, ldm gia tdng nguy co chien tranh tiln tg giiJa cdc quoc gia.
Hai Id, cung ving yeu: Mac dii gia vang dang d muc cao ky lyc, cdc cdng ty, td chuc khai thac vang khdng the ddp irng dii mu:c cdu. Trong giai doan gia vang xuong thdp, cdc cdng ty chi khai thac qugng vang hdm lugng cao, nhung khi gia vang tdng lien tyc, hg chuyin sang khai thdc ca qu^ng cd phdm cap thdp. Theo Iy thuylt, mdi khi cdu tang thi cung se tang theo, qua dd giit gia on djnb. Tuy nhien, dieu nay dd khdng xdy ra vdi vang, don gian vi khdng c6 nguon qudng mdi du de tang san lugtig khai thac va thay the lugng vang di vao tieu diing. Trong nhOng nam qua, san lugng vdng the gidi chi tdng dugc 3%,
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NGHieN CUU TRRO 0(9
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trong khi gid vdng tdng hon 2C%.
Ba Id, cau vang bung no: Nbu cdu da dgng hda danh muc ddu tu, tdng dy trit vdng cua cdc NHTW, cdc quy Idn ciing vdi do la nhu cdu vang vgt chdt den tir cac qudc gia dien hinh nhu: Trung Qudc, An dg, Thd NhT Ky, Thai Lan... Id nhu'ng nhdn to chi phdi khong nhd den gid vdng quoc t l trong ndm qua.
Theo sd heu cua Hgi dong vdng thi gidi thi nhu cdu vdng vgt chat cho dau tu vd sdn xudt trang sue trong nam 2011 la 3.812 tdn, trong dd nhu cdu ciia cdc nudc Trung Quoc vd An Dg chiem tdi tren 51%. Cy the Trung Qudc nhgp kbau 600 tan. An Dg nhgp 918 tan.
Trong ndm qua, cdc NHTW tiep tyc mua vdng vdo ngay cd nhirng thai dilm muc gia tuong doi cao. Noi bgt nhat Id NHTW Nga tdng mirc dy trii' vang tir mire 607 tan len muc 784 tan va da chinb thiic vugt Nhgt Bdn de gianh vj tri dung thii 8 trong danh sdeh NHTW cd dy trii' vang Idn nhat the gidi..
NHTW Venezuela ciing tang them dy trir 2 tan, nang miic d\i UQ nudc nay len 365 tdn.
1.2, Thi tru&ng vdng trong nu&c
Ndm 2012 cung Id nam chiing kien nhieu bien ddng eua gia vang trong nudc. Neu nbu dinh cao nam 2009 la miic 29,3 trigu ddng/lugng thi den quy cudi ciia ndm 2010 thi trudng lgi tiep tuc chirng kien gid vang len din dinh cao mdi la 38,2 trieu ddng/lugng vd dat mdc 47 trieu ddng/lugng vdo ngdy 19 thdng 8 nam 2011. Hien nay, gia vang trong nudc cd gidm, song vdn cdn d muc cao, khoang 42 trieu ddng/lugng vdo nhii-ng ngay ddu thdng 6/2012.
Nhin chung, gia vdng trong nudc bien dgng cimg chieu vdi gid vdng the gidi. Tuy nhien, thai gian gdn day, khi gid vdng cd xu hudng tdng, thi gid trong nudc thudng tang nhanh ban gia the gidi, khi gia vdng cd xu hudng giam thi gid trong nudc thudng gidm it ban gia the gidi, diiu nay da lam cho chenh leeh giira gia vdng trong nudc va gid vang the gidi ludn d miic qud cao (mu'c chenh Igcb phd biln d miic 1,5 den 1,8 trieu ddng/l lugng, cd thdi dilm mirc chenh Igch nay len den gan 3 trigu ddng/I lugng) vd vugt xa mire binh thudng cd thi chap nhgn dugc nhu cdng bd ctia NHNN (0,4 trigu ddng/I lugng). Cd thi ly gidi cbo bien tugng nay bdng mgt so nguyen nhan sau:
Th^ nhdt, sir mat gia cua VND: Trdi vdi xu tbi mdt gia ciia ddng USD so vdi cac ddng tien khac, ndm 2011 chiing kiln viec USD len gia mgnh so vdi VND. Trong nam qua, Ngan hdng Nhd nudc da diiu chinh ty gia binh quan iiSn ngan hdng 2 lan. Lan dau
liiihtii hlfitiriim
vdo ngdy 11/2/2011, dieu cbinb ty gid tdng 9,3%;
lan thir bai vdo ngdy 24/12/2011, diiu chinh ty gia binh qudn lien ngan bang len mirc 20.828 VND.
Mdc dil ty gid binh qudn dugc duy tri on djnh cho din bet nam 2011, nhung gid USD tren thj trudng ty do tdng mgnh vdo nhirng thang cuoi ndm ddn din gid vang trong nudc cung tdng cao. Vao cuoi ndm 2010, gid USD ty do d mirc khodng 19.200 dong, cdn den cuoi ndm 2011 dd len tren 21.000 dong, tuong duong miic tdng khodng 9,4%. Lgm phdt cung tiep tyc tdng eao. Neu nbu lgm pbdt ndm 2009 la 6,88% thi den ndm 2010 con so ndy da len tdi
11,75% vd ndm 2011 Id 18,12%.
Thu- hai, dnh hudng ciia nhirng bien phap quan Iy vang ciia Ngan hang nha nvdc
Trong boi ednh kinh te bat on, tbi trudng bdt dgng sdn ddng bang, chirng khoan theo dd gidm, dau tu vang khdng chi Id noi an todn md cdn Id kenh dau tu tgo ra nhieu lgi nhudn. Chinh viec cdc ddng vdn deu tgp trung vao kenh dau tu vang da Idm eho cdu vang tdng cao, trong kbi cung vdng bj hgn che do phu thugc vao hgn nggch nhgp vdng ciia ngdn bdng Nhd nude (NHNN). Khodng 95%i lugng vang tieu thy tgi Viet Nam dugc nhgp khdu, tuy nhien hogt dgng nhdp khau vdng bj qudn ly rat ch§t che.
Trong thdi gian qua tiep tuc chirng kien su ra ddi ciia nhieu van bdn quy phgm phap luat quan ly hogt dgng kinh doanh vdng nhu: Quyet djnb ddng ciia cdc sdn giao djch vang vd cam hogt dgng kinh doanh vdng tren tdi khodn, Thdng tu 22 siet chat hogt dgng huy dgng vd cho vay vdn bdng vdng tgi cac ngan hdng thuang mgi, Quyet dinh ndi Idng va cap bgn nggch nhdp kbau vdng cho cdc dau.mdi, gidm thue suat thul nhgp khdu vang tir 1% vl 0% va tang thue sudt thue xudt khdu vang tir 0% len 10% ke tir thdng 1/2011.
Giao djch tren thj trudng vdng trong nudc hien nay Id mua - ban kinh doanh vang vat chdt vd huy dgng dudi hinh thuc phdt hdnh gidy td cd gid, cho vay vdng che tdc, kinh doanh trang sire. Cdc giao djch dien ra don le, khdng cd sdn giao djch tap trung. Trudc dd, kinh doanh vdng qua tdi khodn cung dien ra rat sdi dgng, vdi eac sdn giao djch don le trong nudc, do mgt sd ngdn hang, cdng ty, td chiic kinh doanh vdng thanh lap, qudn ly. Mgt sd NHTM eiing dugc kinh doanh vang tren tdi khodn d nudc ngodi.
Thuba, tam Iy va sir mdt long tin vao dong tien trong nudc: N I U nhu nam 2010, chirng kiln viec ngudi dan dd xd di mua vang khi gid vang trong
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nudc len miic cao ky lyc, thi mgt kjch bdn tuong ty da diln ra vdo ndm 2011, khi gid vdng trong nudc vd quoc tl leo thang mgnh ni2. Ly gidi cho dieu ndy, trudc bet la do yeu to tam ly-. Cimg vdi khiing hodng kinh te, Igm phdt, thdm hyt thuong mgi k6o theo gid trj dong USD tdng vgt, VND mat gid tram trgng, theo dd nilm tin vao tien VND gidm siit. Tdm iy lo sg tiln dong lilp tyc mat gid trong liic lo nggi gid vdng trong nudc sfi cdn tdng iiua khien ngudi ddn van dd xd di mua vdng khi gia vdng tdng, cdn khi gia vdng gidm, ngudi ta vdn giCt vdng md khdng muon bdn ra. Dieu ndy khiln khodng cdch "gid vdng ngi" vd "gia vdng ngogi" qua cao.
2. Anh hu-d'ng ciia gid vdng tiing eao den khu
^ uc lai chinh vii hogt dgng ciia NHTM Iheo bdo cdo cua Hgi dong Vdng the gidi, lu<7ng vdng bien cd tgi Viet Nam Id khodng 1.000 tan, tucmg duong vdi 45 ty USD. Hon nQ-a, mgt lugng vdng rdt Idn dang dugc ngudi ddn ndm giir. dang trd thanh luong von hogt dgng khdng chinh thiic, gay sire 6p khdng nhd din chinh sdeh tien tg vd tdng trudng kinh te ndi chung vd hogt dgng ciia cac NHTM ndi rieng.
Trong boi ednh gia trj ddng ngi tg thap, dp lyc mat gid Idn, thi sy gia tang mgnh gid vang vdi tinh chat Id mgt cdng cu tiln te, cho tat ca cac myc dich eat trd, dy phdng, djnh gid vd thanh todn, gay khd khdn cho viec qudn Iy tien te ciia cac co quan cbirc ndng. Mot khi thilu co che quan ly vdng vdi tinb chat Id mgt cdng eg tien te, se khd cd the dgt dugc cde muc tieu kiem che Igm phdt, dn djnb vT md, ddc biet vdi xu hudng gia vdng dang vd s6 cdn diln biln phirc tgp. Nhirng dnh hudng cy the ciia viec gid vdng tang cao cd thi phai ke din la:
+ Gia vang tang cao anh hirdng true tiep den kha nang huy dgng nguon von ciia khu vuc tai chinh: Khi gia vang tdng ngudi ddn riit tiet kiem dl ddu tu vdng thay vi giri tilt kiem tgi ngdn hang.
Ddng thdi, vdn nit ra lgi loanh quanh d thj trudng vdng va ngogi te dan den khd ndng huy dgng von cua cac NHTM bj gidm siit, anh hudng din hogt dgng kinh doanh ciia bg thong ngan bdng ndi rieng vd nen kinh te ndi chung. Trong khoi cung tiln, vdng dugc xep d M2, neu cung tien ehCi ylu d dong ngi te thi vdng giii vj tri an toan tai san. Cdn nlu vdng thamgia vdo vigc chong Igm phat thi ylu to tien te se bi bien thien.
+ Ngan hang khd cho vay vang: Theo so lieu thdng ke vao nam 2011 vdn huy dgng tilt kigm bdng vang cua cac NHTM dgt d mirc khodng 95.000 ty
dong (khodng 115 tan vdng ho$c 4,8 ty USD). Nlu gid vdng tdng, ngudi dan vd doanh nghiep se khdng ddm vay vdng, vi lo nggi bj thiet hgi Up khi din ngdy ddo hgn trd ng vay (vira tra ldi sudt vay vdng, vira bii l6 miic chfinh l$ch gid vdng). Neu cdc ngan hdng huy dgng vdng md khdng cho vay dugc, kenh tfn dyng bdng vdng sfi bj tdc nghgn, gay Idng phi cho nguon von vdng to Idn khdng sir dyng dugc.
+ Ci-A vdng (rong nird'c tSng cao hon gia the gidi gay kho khAn cho vi^c chong do la hda: Tinh trgng dd la hda d Viet Nam khdng chi bieu hien bdng ti le Tiln giri ngogi te/Tong tien giii trong he thong ngan hdng md cdn Id khoi lugng ngogi t§ Imi hdnh ngodi hg tbong ngan hdng. Khi gid vdng trong nudc tdng cao ban gid thi gidi dd Idm cho nhu cau mua USD tren thj trudng ty do dl nhgp khdu vdng Idn, dan din ty gid USD tdng vgt, vugt ngodi tam kiem soat cua NHNN, tgo nhilu bdt Igi cho v i ^ dicu hdnh chinh sdeh tien tg vd cho hogt dgng cua he tbong ngan hang
+ Gia vdng tdng, nguy cO laim phat cao: Trong boi ednh khiing hodng kinh tl, ddng USD suy yeu vd nilm tin vdo VND bj suy giam dan den hien tugTig dimg vang de djnh gia cac tdi sdn Idn, dien binh Id gid bdt dgng san. Khi vdng trd thdnh thudc do gid trj, vigc vdng tdng gia keo gia bat dgng sdn va cac logi hang hda khdc tang theo, gay nguy co lam phdt cao. Hon niJa, dieu nay cdn anh hudng den gid cd trong nudc thdng qua sy tdng gia eiia cac nguyen lieu dau vdo phyc vy cho viec sdn xudt, cbl lac cdc ddng sdn phdm cd lien quan din vang hodc nganh vdng bgc da quy, iii$c dii theo phuang phdp tinh chi so CPI cua Tdng cyc tbong ke giai dogn 5 nam 2009- 2014, vdng khdng dugc tinh trong nhdm hdng hda vd djch vy dl tinh CPI.
+ Gia vang tSng cao, tham hut can can thutfng mai quoc gia ngay cang tram trgng: Gia vdng trong nudc tdng qud nhanh, gidm qud chgm so vdi gid quoc te, sy chenh lech qua Idn giiJa gia trong nudc vd gid quoc t l nlu van tilp diln se tbuc day nbu cau nhgp khau vdng ngdy mgt nhieu ban, dnh hudng xdu din can can thuong mgi quoc te ciia Viet nam. Vdi khoi lugng vdng cdt triJ rdt Idn vd gia tang nhanh chdng trong nhiing ndm gdn day dd giai thich vi sao dy trii ngogi tg cua Vigt Nam suy giam va
"tham hyt" can can thuang mgi.
+ Tam ly dau co, tich trir v&ng tdng len: Khi gia vang cd xu hudng tdng mgnh, ngudi dan se r6t tiln dong mua vang tich trii de ky vgng kiem ldi chenh Igch gia, thay vi gii:! tien dong vao cdc ngdn hdng hogc mua hang hda, djch vy de kfch thfch siic
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tang trudng kinh tl.
3. M$t so de xuat
Cdc cbinh sach bign thdi ciia NHNN dii da mang lgi m0t so kit qua nhdt djnh nhung nhiing tdc dgng din tbi trudng da the hi$n sy thilu dong bg, gay ra nhilu mit thdt can dugc thdo gd. Do dd, cdn phdi xem xet van de gia vdng trong moi quan bg nhan qua, bien chiing vol ty gia va lgm phdt. Ben cgnh dd, cdn coi vdng la phuong tien cdt trQ-, luu thdng tiln t? chii khdng chi Id hdng hda thdng thudng dl cd gidi phap tiep c ^ vd xii ly van de tren co sd dai hgn, tdn trgng tfnh tbyc tien, quy lugt khdch quan ciia nen kinh te thj trudrng, tgp qudn giii vdng ciia ngudi dan. Dudi gdc dg eiia ngudi nghien ciiu, chung toi cd mgt so dl xudt sau:
3.1. vi CO quan qudn ly vd cbinh sdcb qudn ly nhd nu&c doi v&i kinh doanh vdng
Thu nhat, cdn nguyen co bdn cua con sot vang Id lgm phdt, do dd muon gidi quyet van de gia vdng thi phdi cd bign phdp kiem sodt lgm phdt, dn djnh gid trj eua tien ddng de ngudi dan cd niem tin vdo Viet Nam ddng, khdng gom giir vdng va ngogi te.
Thu hai, khdng nen tbyc bign edc bien phdp cd tinh chat hdnh chinh, cat gidm dgt nggt, ngan cam mua ban vang. Bdi nhu vgy s6 cang Idm vang ra khdi kenh cbinh thuc. Thay vdo dd, can ed bude trung gian de chu chuyin vang qua ngan hang.
Khdng nen hgn cbl hay cam huy dgng, cho vay vang bdi se lam lang phi mgt ngudn lyc Idn ciia xa hgi tuy vi^c khdng cho phep chuyin hda von huy ddng vang thdnh tien VND la diing. Bg tai chinh cd the buy dgng vdng cua dan thdng qua trdi phieu vang. Sau dd, NHNN dua sd vang nay ra nudc ngoai de hodn ddi lay ngogi tg, dgng nhu cam cd de Idy vdn cbo ddu tu. Phdt hdnh trai philu dl huy dgng vdng trong dan viia tang thanh khoan ciia vdng, vira giup NSNN cd them vdn dl triln khai cdc dy dn, tang dy trii ngoai hoi, gidm lugng ngogi tg dl nhgp vang. Khi dd thay vi phai cdp phep cho cdc doanh nghiep nh§p vdng thi cd thi mua tryc tilp tCr Chinh phii. Tuy nhien, dl bgn chi trinh trgng gid vang trong nudc tang qua cao so vdi vdi gia the gidi, vdi dieu kien ciia nudc ta hien nay, thi ldi sudt huy dgng vang bang trai pbieu Chinh phu, huy dgng qua ngan hdng thuang mgi phai rat thdp va cd xu hudng gidm ddn. Vl ly thuylt, neu lai sudt huy d^ng la 0% thi ngudi giii vdng vdn cd lgi, vi hg da khdng phdi trd phi cho ngudi giii hg vang.
Thu ba, NHNN cd the bdn vdng ra de binh on vd diiu tilt thj trudng thdng qua vigc NHNN vay vdng
kinhtpAittrifio
ciia cdc doanh nghigp vd ngan hang iiy thdc eho bg bdn theo mirc gid chi dgo cua NHNN. Vdi mye tieu diiu tilt thj trudng, NHNN cd thi bdn them cho den khi gid vdng trong nudc vd the gidi ngang nhau. Vay vdng cd rui ro nlu gid quoc tl tdng, sy chenh lech lai suat vay vdng vd Idi suat tiln ding thu dugc cd the bii ddp mgt phdn rui ro. Viec bdn vdng d mirc gid cao vd gidm dan cho den khi gid trong nudc ngang gid quoc tl cd thi mang Igi m^t phan bii ddp nua, nhung chua dii. Do dd, khi vay vdng NHNN can bdo hiem vd kbi gid quoc tl cd ehieu hudng len, NHNN cd the mua vdng ben ngodi de ty ve- Vdo tbdi diem thj trudng binh on, NHNN cbii dgng mua vang dk trd cbo doanb nghigp, ngdn hdng thuong mgi. Dieu quan trgng Id phdn Idn s6 vdng NHNN iiy thdc ban ra qua cdc doanb ngbiep, ngdn hang se quay trd lai ngan hang dudi dgng tilt kiem vi it ai gii^ vdng d nhd. 0 Viet Nam, vdng khdng chi Id hdng hda, md edn Id phuang tien thanh toan, tich luy, tilt kiem cua ngudi dan, dong thdi cd moi quan he mgt thilt vdi VND, ngogi te nen Nha nudc phai qudn ly thj trudng vdng bang chfnh nhiing cdng cu tbi trudng, khdng nen ngan chgn nhu cau vang bang nhirng menh lenh bdnh chinb.
Thir tu, thdnh Jap Sd giao djch vdng qudc gia.
Nhu cau tieb trii, ddu tu vang vdt chat vd tdi khodn van cdn do, cbo dii cdc sdn vdng da bj ddng cira vinh vien. Vi the, kenh dau tu vdng phdi dugc khoi thong, tgo ra ddng chay cho thi trudng vdng dudi sy kiem sodt eua Nha nudc. Sd giao djch vdng qudc gia la giai phdp cho thj trudng vdng vd la budc dieu chuyin tat yeu ciia thj trudng tdi chfnh. O cac nudc, khdng chi cd cae cbii the nbu nhd khai thac, tinh chi, bdn 16... tham gia sd giao djch vdng. Nbd ddu tu ca nhan, td chirc cung cd tbi tham gia thdng qua cac cong ty mdi gidi. Sd giao djch vang tbuc bien tren co sd khdp lenh lien tyc, gid vang se do cung cdu quyet djnh, tir day logi bd tinh trgng thao tiing, thoi gid ho$c giam gia qua mirc bdi mgt so ddi tugrng ddu co. Ben cgnh giao dich vdng vat chat, sd giao djch cung cap giao djch vang tdi khodn, da dgng hda nhu cau dau tu, ti'ch trii', bdo hiem ciia ngudi dan. Vang Id loai bdng hda ddc biet, ddng thdi cd vai trd nhu mgt ngogi tg dii trii n6n NHNN phdi la ddu mdi td cbiic, thdnh Igp, giam sdt va qudn ly vgn hanh sd giao djch vang. Cdc ca nhan, doanh nghiep cd nbu cdu mua bdn vdng sg dang ky luu ky va dgt cac lenh mua ban thdng qua he thdng giao djch tai Sd.
Thd- nam, ban hdnh chfnh sdeh vl ti le ky quy b-ong kinh doanh vang tren tdi khoan. NIU dn djnh
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'GHieNCUUTRflOTOIti le ky quy qud thap nhu trudc day (5%-7%), cung hien dgi cua thj trudng vdng quoc te.
cd nghTa khuyin khich ddng von cbdy vdo hogt jjgu chudn hda cdn bg theo tirng chiic danh cong dgng dau co, mdt khdc cdn lam gia tdng mirc dg riii vigc (quan he khdch bdng, mdi gidi, ty doanh, phan ro cbo cd nbd dau iir vd ngan hdng. Nhung nlu li I? tich, cong nghg thdng tin...) kl cd vl chuyen mdn ki quy qud cao cung se khdng hgp ly vi gid trj ciia cung nhu dgo diic ngbl nghigp- Day Id co sd cho vdng rdt Idn va diiu ndy cung de dan den cac tlnb VJ^Q tuy|n dyng vd bo tri sii dyng lao dgng, ddo tgo trgng kinh doanh chui, vi phgm lugt. vd ddo tgo Igi theo quy hogch tong the, dong thdi la . Thir.sdu, Nhd nudc can cd chinh sdeh qudn ly thj co sd cho vigc xet ndng luong, trd luong, thudng trudng vdng theo nguyen tdc tgp trung nbung ciing
phdi chii y 6kn Igi ich ciia cac thdnh vien tham gia thi trudng vd tdn trgng quy lugt thj trudng. Viec cbi duy tri mgt thuong higu vdng quoc gia duy nhdt Id cdn thilt, nhung trong dieu kien hien nay, tren Ihj trudng dang ton tgi nhilu thuong hieu vdng khdc nhau, NHNN can sdin to chirc tbyc hign chuyin doi cac thuong bieu khdc vl thuong bi^u vang quoc gia mgt cdch thusiii tien, theo dung nguyen tdc thj trudng va ddm bdo lgi fcb ciia ngudi chuyen doi, trdnh tinh trgng ngudi sd hiru cdc thucmg hi^u vdng khdc bj ep gid vd chiu nhiing thiet thdi nhu da xay ra trong tbdi gian vira qua.
3.2. Dol v&i cdc ngdn bdng thuong mgi
phii hgp vdi trlnh dg khd ndng ddng gdp cua tung cdn bg nhdn vien.
Vc CO sd ha tang phuc vu cho kinh doanb vdng: Kinh doanh tren thj
trudng vdng cd riii ro tiem dn rat cao vd chju tac dgng ciia cdc bg phgn thj trudng tdi cbinh, cac biln dgng kinh tl, chinh trj, xd hgi, cdc dgng thdi cua ngan bdng Trung uong, djnh che tdi chinh quoctl...
De cung cap edc nghiep ^V kinh doanb mgt each bieu qud, cd dg chinh xdc cao, don gian hda cac khau trung gian xir ly so ligu theo cdch truyen thong va tiet kiem thdi gian Idm viec, ngan hdng can ddu tu cdc phan mim chuyen diing cho vigc djnh gia, tinh phi quyen chgn, phdn mem ho trg vigc theo d5i Ve nguon nhan lyc: Kinh doanh. vdng Id hogt hgn mure giao djch cua cdc nhan vien kinh doanh va dgng phiic tgp ddi hdi ngudi kinh doanh khdng cbi hgn mu'c khach hdng, phdn mem ky thudt hien dai cd chuyen mdn sau, rgng ma cdn phdi ndng dgng, dimg cho viec phan tich, dy dodn xu hudng gia. Co nhgy ben, am hieu thj trudng tai chinh, cd khd ndng the ndi, hg tang ky thugt, cdng nghg ludn Id van de phdn tich edc yeu to dnh hudng den thj tnrdng vdng, phiic tgp, ton kem. Viec dp dyng cong nghe ndo cdn ddng thdi phdi cd dgo dire nghe nghiep, trung thyc tiiy thugc vdo miic dg phdt trien ciia th; trudng cung trong kinh doanh. Vi vgy, thyc hien tdt quy trinh nhu kha ndng ciia timg ngan hdng.
tuyen chgn se tranh dugc tinh trgng vira thieu, vira thira cdn bg.
Thudng xuyen td chiic cdc Idp dao tgo chuyen sdu ve nghiep ^M thdng qua cdc khda hgc dao tgo
D I nang cao chat lugng kinh doanh vang, cac NHTM can nghien ciiu ddu tu, trang bj be thdng nhgn lenh, chuyin lenh, thanh todn, he thong thdng day dii, dong bg, hign dgi. Vigc dau tu he ngdn hgn d trong nudc vd nudc ngoai dl vira ndng thong trang thilt bj cung cdn dam bao tinh dong bd, cao trinh dg chuyen mdn, nghigp vy vira tgo co hgi tuong thich vdi hg thong dl cdc hogt dgng dugc lam quen vdi mdi trudng kinh doanh sdi dgng vd thyc hien mgt cdch trdi cbdy, thdng suot.O
Tai lieu tham khao:
1. TS Nguyen Minh Phong (2011) "NhOng dgng thdi ndi b§t cua thj tnrdng vdng ndm 2010 va thdng difp cho nSm 2011". Vi?n nghien cihi phdt triln KTXH Hd N0i.
2. Dl tdi NCKH cap ngdnh KNH 2009 -01 "Cdc gidi phdp ndng cao hi§u qua qudn ly kinh doanh vdng theo chiic ndng cua NHTW " chii nhiem dl tdi Nguyin Vdn Anh.
3. Ths. Nguyen Thj Nhung (2011) " Cdng tdc qudn ly vdng theo chiic ndng ciia NHTW: Kinh nghiSm cua Trung Quoc vd dl xudt cho Viet Nam" Vy Qudn ly Ngogi hIi - NHNN Viet Nam.
4. PGS.TS Nguyin Thj Phuang Lien (2011) "M0t si gidi phdp ddi vdi hogt ddng kinh doanh vdng d Vi^t Nam"
Dgi hgc thuang mai.
5. TS Dl Thj Thuy (2011) " Thj trudng vdng vi^t nam ndm 2010- Nhttng Idc ddng din chinh sdeh tdi chinh" NgSn hdng TMCP Cong thuong Vi^t Nam.
6. TS( Vu Dinh Anh (2011) "Thj trudng vdng Vi^t Nam 2010: Thyc trgng vd gidi phdp" Vifn kinh tl tdi chlnli, Hgc vienWchinh.
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