On November 26, the Ho Chi Minh City Market Management Department announced that three inspection teams from Team 14 had conducted checks on several private gold trading businesses in Phu Thanh Ward, Ho Chi Minh City.
During the inspections, authorities seized over 54 grams of gold jewelry valued at nearly 130 million VND. Team 14 has forwarded the case to the Director of the Market Management Department for administrative penalties totaling 210 million VND and the confiscation of all seized gold jewelry.
In December, the Market Management Department will inspect hundreds of gold shops across the city.
According to Nguyen Quang Huy, Deputy Director of the Ho Chi Minh City Market Management Department, the department has planned inspections of 180 gold trading locations as part of this year’s gold market campaign.
Specifically, authorities will focus on compliance with regulations regarding business registration, trading conditions, product origin, intellectual property, pricing, e-commerce activities, invoices, and price displays.
In addition to gold market inspections, the department’s leadership stated that they will intensify market surveillance during the year-end peak season, especially around holidays and Tet, to promptly detect and address violations, particularly those involving counterfeit goods, substandard products, and items of unclear origin.
Authorities will also monitor online trading activities on e-commerce platforms, websites, and social media channels like Facebook, TikTok, and Zalo, ensuring compliance with quality standards, technical regulations, and food safety laws.
In 2024, the Ho Chi Minh City Market Management Department inspected the gold market, handling 326 cases of gold and jewelry trading violations. Seized assets were valued at over 18 billion VND, with fines totaling 17.6 billion VND.
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