Another company terminated from multi-level marketing

The Competition Management Department officially announced the termination of multi-level marketing activities nationwide and requested the withdrawal of the deposit of Global Investment and Trade Network Joint Stock Company at 32 Nguyen Quy Duc, An Phu Ward, District 2, Ho Chi Minh City, Vietnam.

According to the Competition Management Department, this company has a multi-level marketing registration certificate No. 052/QLCT-GCN, first issued by the Competition Management Department on August 28, 2015. The time to terminate multi-level marketing activities is from June 16, 2016 and the request to release the deposit amount is due to the reason that this company terminates multi-level marketing activities.

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Within 30 days from the date the Competition Management Department posts this notice, multi-level sales participants of Global Investment and Trade Network Joint Stock Company have the right to notify the Department that the Company has not fulfilled the obligations specified in Point b, Clause 2, Article 16 of Decree 42/2014/ND-CP on management of multi-level sales activities.

In case there is no notification from the multi-level sales participant sent to the Department within the above-mentioned time limit, Global Investment and Trade Network Joint Stock Company is considered to have fulfilled the obligations specified in Point b, Clause 2, Article 16 of Decree 42/2014/ND-CP.

At the same time, the Competition Management Department issued a document approving the release of the deposit for the enterprise after the enterprise had completed the obligations specified in Point b, Clause 2, Article 16 of Decree 42/2014/ND-CP.

According to Uyen Huong/baotintuc