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VietNamNews

Mekong tourism firms fined

Update: February, 02/2012 - 09:47

DONG THAP — The State Bank of Viet Nam branch in Dong Thap Province fined three tourism companies yesterday for violating financial and monetary regulations.

Diamond for Life Co Ltd in Ward 1 of Sa Dec Township and DHT Minh Tien Co Ltd in Thanh Binh District's An Phong Commune were fined VND11.33 million (US$540) each, while DHT Minh Phu in Thanh Binh District's Tan Thanh Commune was fined VND5 million ($240).

The fines were imposed after the companies were found listing prices of their 4-day, 3-night tours in US dollars, according to a statement on the central bank website.

Viet Nam decrees that all transactions, payments, advertisements and price listings are done in the national currency, excepting those carried out by banks, airports and customs agencies.

Earlier in October 2011, the Government issued a new decree setting higher fines for violations in the financial sector.

Accordingly, the maximum penalty for quoting prices of goods and services in foreign currencies were increased by seven times to VND500 million ($23,800).

On 30 December 2011, the central bank imposed a fine of VND500 million on the Metropole hotel in Ha Noi for listing its service prices in US dollars.

After the authorities strengthened their crackdown on violations in the monetary sector, many travel agencies, language centres and international schools in HCM City have filed documents seeking permission to list their service prices in US dollars.

However, the central bank is yet to respond to these requests. — VNS

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