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Update news multi-level marketing
The Vietnam Competition and Consumer Protection Authority (VCCA) has issued a warning to investors about the perils of investing in illegal multi-level marketing businesses run by "AI Robots".
Though the number of MLM (multi-level marketing) businesses has decreased, the revenue of these businesses has risen rapidly. Disguised MLMs are still challenging management agencies.
Despite the COVID-19 pandemic’s disruptive impact on retail and consumption, multi-level marketing (MLM) activities have been blossoming, with steady improvements in quality and earning growing trust from customers.
The Vietnam Competition and Consumer Protection Authority (VCCA) has issued a warning over cashback apps which lack transparency and showed signs of illegal multi-level marketing.
Only three of the 20 firms lodging an application last year have met all registration criteria to run multi-level marketing (MLM) business in Vietnam.
After the authorities revoked working licenses of five multi-level marketing (MLM) firms last year, there are 23 firms of this type allowed to operate in the country.
Nguyen Thanh Hai, deputy director of the Ha Noi Department of Industry and Trade, speaks to the Hà Nội Mới newspaper on his department’s resolve to monitor closely the multi-level marketing activities in the city.
The government has passed amendments to Decree No. 185/2013 on handling violations in commercial activities, with changes in penalties applicable to fraud in multi-level marketing (MLM) activities.
VietNamNet Bridge – Phan Duc Que of the Ministry of Industry and Trade's Competition Authority spoke with Nong thon ngay nay newspaper about network marketing violations.
VietNamNet Bridge – The government has released a new decree with strict regulations that control multi-level marketing (MLM), a sales model that has never been popular in Vietnam.
VietNamNet Bridge – Vietnam’s government is outlining new regulations to manage direct selling as pyramid schemes are on the rise.