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VietNamNews

Market Watch cracks down

Update: May, 07/2013 - 12:05

Ha Noi Market Watch handled 18 cases relating to smuggled and mislabelled electric bicycles. It is reported that the bicycles were imported for VND2-3 million ($95-143) but sold at VND10 million.— Photo danviet

HA NOI (VNS)– National Market Watch forces declared more than 28,380 violations and collected fines totalling VND67.7 billion (US$3.2 million) in the first four months of this year.

This followed checks on about 58,400 cases.

The sale of seized products and collected tax added nearly VND33.6 billion ($1.6 million) and VND354 million ($17,000), respectively, to the State's budget.

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 Notably, market watchers seized nearly 50,000 bottles of milk, most of which were illegally imported, out of date or carrying vague labels of origin and quality.

Ha Noi Market Watch handled 18 cases relating to smuggled and mislabelled electric bicycles. It is reported that the bicycles were imported for VND2-3 million ($95-143) but sold at VND10 million.

Vice head of Industry and Trade Ministry's Market Watch Department Do Thanh Lam said yesterday that more drastic measures would be taken to curb violations, especially those related to essential products including fuel, fertilisers and milk. – VNS


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