>>Multilevel marketing-related fraud challenges state management
Deputy Minister of Industry and Trade Tran Quoc Khanh recently said the ministry would reconsider the legal framework for the multi-level marketing models with a view to limiting tricks employed to take advantage of such models for self-seeking or fraudulent purpose.
Legal framework for multi-level marketing business to be further completed_Photo: Internet
In order to raise the effectiveness of the management of multi-level marketing business, the ministry will coordinate with the Central Steering Committee 389, aiming to fight tax evasions and protect consumer rights, and with the Vietnam Multi-Level Marketing Association in conducting inspection and examination to ensure multilevel marketing companies’ compliance with their licenses and law and strict handling of violators.
The ministry has also called on relevant agencies, press agencies and people for their participation in detecting violations for prompt handling.
The Vietnam Competition Authority under the ministry has worked out a process of receiving and processing information from the press for the market management force to handle violations.
Upon its accession to the World Trade Organization (WTO), Vietnam committed to allowing multi-level marketing business in the country. The country has enacted regulations on multi-level marketing activities which have been consistent with those applied around the world, said the deputy minister.-(VLLF)