The Hanoi Market Management Department has launched a specialized inspection plan to tightly control compliance with legal provisions in gold business activities for 2024.
Numerous gold products with trademark infringements were temporarily seized by the Market Management Department
Accordingly, the inspection of gold production, processing, and trading enterprises in Hanoi will take place from August 15 to October 15. Statistics show that 116 enterprises are subject to this specialized inspection. The list includes prominent gold and jewelry companies in the city, such as Bao Minh Gold and Jewelry Company, Bao Tin Gold and Jewelry Co., Ltd., Huy Thanh Gold, Silver and Gemstone Co., Ltd., Phu Tai Gold and Jewelry Company, and PLJ Phuc Long Co., Ltd.
The inspection covers the following aspects: Business registration certificates, certificates of eligibility for business, price display compliance, adherence to intellectual property regulations, product origin and traceability, measurement and quality control, and label requirements. If violations are detected, samples will be taken for quality testing.
Additionally, the authorities will scrutinize compliance with regulations on e-commerce, the utilization of digital applications for business, and other relevant provisions. The inspection team comprises not only the Market Management force but also coordinating forces from the Department of Standards, Metrology, and Quality under the Hanoi Department of Science and Technology and the Hanoi Police, who will join the inspections if necessary.
The Market Management Teams are required to submit their inspection results to the Hanoi Market Management Department by October 22. Previously, in Ho Chi Minh City, the Market Management Teams had simultaneously inspected numerous gold shops in the city. From the beginning of the year until July 15, they detected 196 cases of violations in the gold jewelry sector. They also temporarily seized 1,657 gold jewelry items, including rings, necklaces, bracelets, and pendants, with a total value of over VND 14.2 billion, due to unclear origins, counterfeit trademarks, or other violations. Administrative fines totaling VND 9.4 billion were imposed.
In late May, the State Bank also announced an inspection of compliance with policies and laws in gold business activities. The inspection encompassed six financial institutions and enterprises: Tien Phong Commercial Joint Stock Bank (TPBank), Vietnam Export-Import Commercial Joint Stock Bank (Eximbank), Saigon Jewelry Company Limited (SJC), DOJI Gold and Gems Group, Phu Nhuan Jewelry Joint Stock Company (PNJ), and Baotin Minh Chau Jewelry Company Limited.
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