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Marketing firm to boost local capacity
The Viet Nam Multi-LevelMarketing (MLM) association made its debut on Wednesday in Ha Noi, with the expectation of creating a professional system of MLM companies.
Truong Thi Nhi, President of the association, said the organisation would focus on improving the capacity of MLM companies in Viet Nam and improving connections amongst local firms operating in the area.
The association, she added, would work with State management agencies in the process of building mechanisms and regulatory policies concerning MLM activities in order to create a healthier and more standardised environment for competition.
In addition, it will carry out support and co-operation programmes with regional and international MLM associations.
Addressing the launching ceremony, Deputy Minister of Industry and Trade Le Danh Vinh said that since the adoption of the Law on Competition in 2004, MLM had been recognised as a legal way of doing business in Viet Nam.
The MLM market, joined by 45 local and foreign firms, has developed significantly in Viet Nam over the last five years.
According to statistics updated at the end of 2009, there were 32 operating MLM companies with 700,000 distributors in the market, offering around 1,000 product lines—mainly nutritional supplements, cosmetics and household utensils.
With VND2.1 trillion in sales (US$109 million) in 2009, or a 150 per cent rise against the 2008 figure, these firms have contributed nearly VND660 billion in taxes to the State budget and donated VND5 billion to humanitarian causes.
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