Six multi-level marketing firms in Vietnam to be inspected
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The six companies include: Vinalink Joint Stock Company and Gcoop Vietnam Ltd. Co. in Hanoi, Oriflame Vietnam Ltd. Co., Seacret Ltd. Co., the Total Swiss Ltd. Co., and the Kyowon The Orm Vietnam Ltd. Co., in HCM City.
The inspection plans will be carried out following decisions issued by the ministry in November and December 2022 to prevent and tackle violations in multi-level sale activities.
As of March, 2023, there were 19 legal multi-level marketing firms operating in the country.
According to the Ministry of Industry and Trade, revenue from the sector has continued to grow. In 2020, it posted turnover of over VND15.4 trillion ($649 million), a year-on-year increase of 22.8 per cent, and then more than VND19 trillion ($801 million) in 2021.
Last year, two multi-level marketing firms ceased operations after their licenses were revoked for violations in sales activities.
Content retrieved from: https://vietnamnet.vn/en/six-multi-level-marketing-firms-in-vietnam-to-be-inspected-2141638.html.
