Ho Chi Minh City is set to open an area exclusively reserved for the sale of gold and silver jewelry later this month.
The People’s Committee in District 5 announced on Tuesday that the ‘jewelry streets’ were scheduled to be put into operation on April 27.
The exclusive zone will be organized, managed, and invested in to become an attraction that will attract both domestic and foreign visitors.
According to the local administration, several residents on Nhieu Tam Street in Ward 5 began their gold, silver, and jewelry businesses in the late 1980s to meet rising demand.
Their operation had been kept secret until now and even extended to neighboring streets including Nghia Thuc and Bui Huu Nghia.
Aside from shops with an increasingly diversified range of goods, many stores specializing in equipment and devices specific to the jewelry industry have also been established in recent years.
Besides the economic value, the specialized street will preserve the tradition of the gold and jewelry sector that existed in old Saigon, said Nguyen Vo Xuan Ky, head of the District 5 People’s Committee’s office.
“Authorities in District 5 have pledged to establish specialized streets with modern operations, high-quality services, and good reputations,” Ky continued.
According to the official, Nhieu Tam Street will be the center of an exclusive zone while Nghia Thuc and Bui Huu Nghia Streets will also be part of the area.
About 55 businesses operating in gold, silver, gemstone, Feng Shui and related tools will also be situated along these roads.
Each facility will be equipped with a logo common to the ‘jewelry street’ brand, while employees will also have distinct uniforms depending on their type of service.
All of them will operate with legitimate business licenses and listed prices, and with a commitment to sell products with guaranteed quality and not to overcharge customers.
The shops will compete, Ky said, adding that their operations would not occupy sidewalks.
According to Le Thi Loan, head of the District 5 Office of Economics, the construction of parking lots within the zone has been proposed to provide the best convenience for shoppers.
Local authorities will also cooperate with tour operators to introduce the ‘jewelry streets’ to international tourists, Loan stated.
Le Thi Ngoc Dung, chairwoman of the administration in Ward 5, added that security cameras had been installed along theses streets to ensure order and safety in the area.
A security unit will be established to join hands with local police officers and deal with potential crime and disorders, Dung also explained.
A hotline will be announced for visitors to give feedback on the quality of services and products sold in the zone.