Thursday, August 23, 2018 14:36
The Vietnam Competition Authority under the Ministry of Industry and Trade has imposed fines of VND920 million ($39,494) on three multi-level marketing companies who were found to sell products without certificates of local functional agencies.
The Ministry of Industry and Trade announced the news yesterday. In addition to fines, one company’s business licenses was revoked.
International Commercial Greenlife in Pho Yen Town in Thai Nguyen was fined VND510 million for selling commodities without the verification by the Department of Industry and Trade, lacking necessary documents for certification procedures, not providing basic training to participants to its system, asking staffs to buy goods, and boasting the uses of commodities to entice people to take part in the multi-level marketing.
The company faced revocation of business certificate. Nevertheless, the company must still ensure right benefits of participants as per the law.
Thuong Xuan Cosmetic Company in 100-102 Nguyen Van Troi Street in Phu Nhuan District in Ho Chi Minh City was imposed a fine of VND170 million for not taking back its company’s members according to the regulations, selling goods in cities and provinces without certifications from the local departments of industry and trade.
Unicity Marketing Vietnam in 141 Cong Hoa Street in Tan Binh District in Ho Chi Minh was fined for the same violations.
By VAN PHUC – Translated by UYEN PHUONG