An investigation of the Ministry of Industry and Trade (MoIT) concluded that 99.3% or 2,257 out of the total 2,273 products sold by the self-claimed-Korean-brand Mumuso Vietnam were imported from China.
The MoIT has announced its decision to investigate enterprises operating with chain stores nationwide that have a similar business model to Mumuso Vietnam, said the Ministry on its website on August 3.
As per Trade Minister Tran Tuan Anh's instruction, the ministry's Domestic Market Department will cooperate with related government agencies in addressing shortcomings of the legal framework which focuses on managing the chain store model.
The move is aimed to increase efficiency of state management over companies similar to Mumuso Vietnam.
The minister requested the Vietnam Competition Authority (VCA) to investigate and deal with Mumuso Vietnam's violations of the Competition Law.
The MoIT on July 13 announced violations found at Mumuso Vietnam with regard to the origin and brand of the company's products, following the ministry's conclusions of its investigation into the company's operations between 2016 and May 2018.
The investigation found signs of legal violations as the company had provided inaccurate and misleading information to customers.
Notably, 99.3% or 2,257 out of the total 2,273 products sold by Mumuso Vietnam were imported from China.
Among a number of Mumuso Vietnam's violations, customers are informed that Mumuso's products have South Korean origin, however, the company was unable to provide documents clarifying the accuracy of the information during the MoIT's investigation, especially those relating to the origins of products and production technologies, the ministry said.
After debuting in the Vietnamese market in December 2016, Mumuso has opened 27 stores nationwide, offering thousands of products in five aspects including beauty, healthcare, fashion accessories, office and home appliances with prices from only VND22,000 (US$1), it claims.
Illustrative photo.
|
The move is aimed to increase efficiency of state management over companies similar to Mumuso Vietnam.
The minister requested the Vietnam Competition Authority (VCA) to investigate and deal with Mumuso Vietnam's violations of the Competition Law.
The MoIT on July 13 announced violations found at Mumuso Vietnam with regard to the origin and brand of the company's products, following the ministry's conclusions of its investigation into the company's operations between 2016 and May 2018.
The investigation found signs of legal violations as the company had provided inaccurate and misleading information to customers.
Notably, 99.3% or 2,257 out of the total 2,273 products sold by Mumuso Vietnam were imported from China.
Among a number of Mumuso Vietnam's violations, customers are informed that Mumuso's products have South Korean origin, however, the company was unable to provide documents clarifying the accuracy of the information during the MoIT's investigation, especially those relating to the origins of products and production technologies, the ministry said.
After debuting in the Vietnamese market in December 2016, Mumuso has opened 27 stores nationwide, offering thousands of products in five aspects including beauty, healthcare, fashion accessories, office and home appliances with prices from only VND22,000 (US$1), it claims.
Other News
- Vietnam among Asia-Pacific's fastest growing economies: FedEx
- Vietnam’s stock market remains attractive investment channel: Expert
- Cuba appreciates Vietnam’s support in food and fisheries production
- Vietnam, China to step up cooperation strategy for mutual development
- PM orders urgent measures to address volatile gold prices
- Vietnam earns US$1.4 billion from rice exports in Q1
- Russia’s Zarubezhneft Group explores opportunity for offshore wind projects in Vietnam
- Vietnam poised to reap rewards of rebound in global demand: AMRO
- India, Vietnam seek strong development objectives: Ambassador
- Vietnam’s economy set for speedy recovery in latter half of 2024
Trending
-
Culture is national asset: Vietnam PM
-
Vietnam news in brief- April 19
-
Cultural similarities provide basis for Vietnam-Italy cooperation in various fields
-
[Video]Hanoi beauty spots featured in saxophone legend Kenny G's music video
-
Colorful stage shows in Hoan Kiem Lake pedestrian area
-
It happened as it had to happen
-
Hanoi street where dead appliances come back to life
-
Vietnam’s economy urged to rely on internal strengths to weather global uncertainties: ADB
-
Vietnam, Thailand advance realization of “Three Connections” strategy