Many multi-level marketing businesses 'disappear'

The Ministry of Industry and Trade has just announced that 16 multi-level marketing businesses in Hanoi had their licenses expire since January 2015, but have not yet completed the procedures to terminate operations and release deposits as prescribed.

“Among these, there are businesses that cannot be contacted, or have not shown any activity indicating that they will cease operations. There are businesses that have announced the cessation of operations, but have not yet submitted documents to release the fund,” said the Ministry of Industry and Trade.

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In which, Ufun Vietnam Co., Ltd., World Nets Vietnam Co., Ltd., JM Ocean Avenue Co., Ltd., LVI International Investment Joint Stock Company, Akuna Vietnam Trading Co., Ltd., Melilea International Vietnam Co., Ltd. have not yet terminated multi-level marketing business, and have not yet requested to release the deposit.

Also according to the Ministry of Industry and Trade, many businesses have announced the termination of multi-level sales and submitted notices, but have not yet implemented the request to disburse the deposit money.

They are Agel Vietnam Co., Ltd., World Diamond Joint Stock Company, Trung Bao Anh Quoc Vietnam Co., Ltd., Thien Phuong Vietnam Co., Ltd., Vietnam Vision Co., Ltd., Jeunesse Global Vietnam Co., Ltd., Synergy Co., Ltd., Qivana International Co., Ltd., Everrich Global Company, Amkey Vietnam New Technology and International Development Joint Stock Company.

Faced with the above reality, the Hanoi Department of Industry and Trade requests organizations and individuals to monitor the activities of the 16 multi-level marketing enterprises. If these enterprises are found to be still conducting multi-level marketing activities, it is recommended that violations be handled according to current law.

According to the provisions of Circular 24 of the Ministry of Industry and Trade, these enterprises are obliged to carry out procedures to notify the termination of sales activities and request withdrawal of deposits with the Hanoi Department of Industry and Trade, and at the same time resolve obligations to multi-level sales participants of the enterprise when terminating multi-level sales activities according to the provisions of law.

As of November 29, these 16 enterprises have not yet carried out or completed the above procedures.

The Hanoi Department of Industry and Trade has clearly announced the time when the multi-level marketing organization registration certificate of enterprises expires, in order to carry out procedures to notify the termination of multi-level marketing activities and request the withdrawal of deposits.

At the same time, send documents to relevant departments and branches requesting inspection, supervision and handling of violations in multi-level sales activities of enterprises whose multi-level sales organization registration certificates have expired.

According to Kieu Chau/vneconomy