HCMC – Three major Vietnamese jewelry retailers have been fined VND200 million each for providing misleading information to customers, according to the National Competition Commission under the Ministry of Industry and Trade.
The penalized firms include Saigon Jewelry Company (SJC), Doji, and Bao Tin Minh Chau. Authorities said the companies had violated the competition law by issuing information that could confuse customers about their products in an attempt to attract clients from rivals.
In addition to administrative fines, the firms must publicly correct the misleading content on their official websites.
The commission noted that the companies cooperated during the investigation, provided documents, and took measures to mitigate the impact of the violations.
This is not the first penalty against the three gold businesses this year. In May, the State Bank of Vietnam imposed fines ranging from VND1.3 billion to VND2.6 billion on them for violations related to taxation, invoicing, accounting, anti-money laundering regulations, and pricing practices. Doji and Bao Tin Minh Chau were also found breaching e-commerce and digital business regulations.
