Business

Administrative sanction imposed to retail store chain Con Cung

By Vu Nga September 18, 2018 | 05:34 PM GMT+7

The Market Surveillance Agency has just issued a decision on an administrative fine of VND250 million, equivalent to $10,766 to the maternal and baby products distributor Con Cung for eleven violations.

A retail store of Con Cung

According to Market Surveillance Agency (MSA) under the Ministry of Industry and Trade (MOIT), Con Cung Joint Stock Company failed to provide label of corporate information at its place of business; failed to fully comply with regulations that information must be publicized in case of promotions; failed to follow the contents of the promotion programs which had been notified to the State management agency.

In addition, Con Cung mislabelled products and failed to provide sufficient information about goods, services and prices to customers, etc.

Previously, the retail store chain Con Cung in Ho Chi Minh City was examined under MSA's instruction due to customer complaints about the product labelling.

After inspection process, the MSA came to conclusion on Con Cung's law enforcement in production and trading of goods, commercial services, competition and protection of consumers' interests.

Based on the results of inspection on 75 samples of products, goods and consumer protection activities, Con Cung was concluded to comply with the law of protecting the interests of consumers, goods' quality and origin tracking. The import dossier of this company was in accordance with the law on procedures for import goods.

However, there are still some acts that the company fails to comply with the prevailing laws. The well-known retail store chain of maternal and baby products violated regulations on goods labelling, promotion and e-commerce.

For mislabelling products, Con Cung was asked to make it right before putting it in trade.

For administrative violations, MOIT directed the MSA and Ho Chi Minh City Market Surveillance Branch to take actions based on the provisions of law.

Deputy Minister of Industry and Trade Do Thang Hai said that after the inspection conclusions, on August 17, MoIT decided to establish a task force to review and evaluate the law enforcement of Market Surveillance Agency on inspection of Con Cung.

"MOIT will carefully clarify whether there is any violation made by the Agency’s members involved in the investigation of Con Cung,” said Hai.

Cen Land transforms into real estate developer with bold goals

Cen Land transforms into real estate developer with bold goals

Business -  1 week

Cen Land is shifting from brokerage to development, targeting a 170% revenue increase and 424% profit growth in 2025.

Menas signs to elevate lifestyle experiences at Keppel’s properties in Vietnam

Menas signs to elevate lifestyle experiences at Keppel’s properties in Vietnam

Business -  1 month

Menas Group has entered a strategic partnership with Keppel to co-develop an integrated ecosystem of lifestyle services across Keppel’s real estate projects in Vietnam, beginning with the landmark Celesta City development in Saigon South.

Phuc Sinh secures $15 million investment from Dutch investor for sustainable expansion

Phuc Sinh secures $15 million investment from Dutch investor for sustainable expansion

Business -  1 month

Phuc Sinh’s expansion underscores Vietnam’s growing role in sustainable agriculture and its increasing appeal to global investors

PVI Asset Management and SonKim Capital partner to revolutionize real estate investments

PVI Asset Management and SonKim Capital partner to revolutionize real estate investments

Business -  1 month

PVI Asset Management (PVI AM) and SonKim Capital (SK Capital), a business unit of SonKim Group has announced a strategic collaboration to develop innovative real estate investment products tailored for institutional investors and high-net-worth individuals.

Filum AI secures $1 million amidst funding winter

Filum AI secures $1 million amidst funding winter

Business -  1 month

Filum AI has successfully raised $1 million in funding despite a challenging venture capital market, underscoring the potential of AI and shifting investment strategies.

New decree eliminates barriers and enhances access to financing for enterprises

New decree eliminates barriers and enhances access to financing for enterprises

Business -  2 month

Enterprises are advised to promptly assess and evaluate the impact of the changes in the newly-issued to ensure timely compliance in the upcoming tax finalization period.