Business

Market Watch cracks down on violations

National Market Watch forces declared more than 28,380 violations and collected fines totalling 67.7 billion VND (3.2 million USD) in the first four months of this year.
National Market Watch forces declared more than 28,380 violations andcollected fines totalling 67.7 billion VND (3.2 million USD) in thefirst four months of this year.

This followed checks on about 58,400 cases.

The sale of seized products and collected tax added nearly 33.6billion VND (1.6 million USD) and 354 million VND (17,000 USD),respectively, to the State's budget.

The violations mostlyinvolved trade in smuggled, fake or substandard products, business fraudand price violations. Notably, market watchers seized nearly 50,000bottles of milk, most of which were illegally imported, out of date orcarrying vague labels of origin and quality.

Hanoi Market Watchhandled 18 cases relating to smuggled and mislabelled electricbicycles. It is reported that the bicycles were imported for 2-3 millionVND (95-143 USD) but sold at 10 million VND.

Vice head of theMinistry of Industry and Trade’s Market Watch Department Do Thanh Lamsaid on May 7 that more drastic measures will be taken to curbviolations, especially those related to essential products such as fuel,fertilisers and milk.-VNA
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