Vietnam is largest gold consuming market in SEA

Vietnam is the largest gold consuming market in Southeast Asia and among the top 10 in the world, according to Andrew Naylor, Director of ASEAN World Gold Council.

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The latest report on personal gold investment in Vietnam, conducted in 2020 by the World Gold Council, revealed that nearly 70% of 2,000 surveyed investors gold is their top priority item.

More than 80% of respondents, who invested in gold in the last 12 months, may buy more in the coming time. The number was higher than the global average of 45%.

About 76% of the respondents agreed the opening of a gold account at a bank and the formalization of the gold market via banks.

Despite the impact of the COVID-19 pandemic, Vietnamese gold retailers outperformed the market, of them in 2020 PNJ’s profit exceeded 29% compared to its planned target./.

VNA

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