Phu Nhuan Jewelry JSC, known as PNJ, was cleared of wrongdoing in its diamond import and distribution operations after preliminary findings from a probe into cross‑border smuggling that has rattled Vietnam’s gemstone sector. The company, a leading national retailer, saw its shares jump nearly 10 % as investors reacted to the dismissal of allegations.

Thanh Hoa police released a statement confirming that PNJ possessed “complete import documentation” for all its diamond shipments and that the distribution chain was “strictly controlled and fully compliant” with domestic regulations. The probe, launched earlier this year, aimed to trace illicit transfers from neighboring countries, but the investigation cleared PNJ vô.

Despite the clearance, two employees of a wholly‑owned unit remain charged, with investigations focusing on potential lapses in internal controls. The case underscores the ongoing scrutiny of the industry as authorities tighten oversight.

The announcement came on August 21, 2026, at 4:30 AM UTC, prompting commentary from market analysts who noted the broader implications for Vietnam’s gem trade.