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Gold/Mining/Energy : A to Z Junior Mining Research Site -- Ignore unavailable to you. Want to Upgrade?

To: 4figureau who wrote (4292)	5/5/2003 10:14:58 AM
From: 4figureau	Read Replies (1) \| Respond to of 5423

Vietnam issues unlimited quotas for gold imports Monday May 5, 5:44 am ET HANOI, May 5 (Reuters) - Vietnam has issued unlimited quotas for gold imports in a bid to liberalise its tiny bullion market, a central bank official said on Monday. "We will issue more (import) quotas as long as there are demands from domestic businesses, without any limits," said an official in charge of monitoring the gold market at the central bank's foreign exchange department. The lifting of restrictions on gold imports has prompted a surge in gold trading. Vietnam said last October it would drop the quotas, but offered no time frame and the official did not say when the restrictions were lifted. So far this year, Vietnam has issued import quotas for more than 16 tonnes of the precious metal, versus 11 tonnes for the whole of 2002. Vietnam produces less than two tonnes of gold per year and imports between 35 tonnes and 40 tonnes for local consumption. biz.yahoo.com