Over one million people join multi-level marketing businesses

25-Aug-2020 Intellasia | The Saigon Times | 6:02 AM Print This Post

Some 1.1 million people participated in the multi-level marketing industry in 2019, down nearly 12 percent year-on-year, with only 50 percent of them earning revenues, said the Vietnam Competition and Consumer Authority (VCCA) under the Ministry of Industry and Trade.

The number of people getting involved in multi-level marketing firms declined last year but total sales generated from these activities exceeded VND12.5 trillion, rising by 16 percent and 35 percent versus the 2018 and 2017 figures, respectively.

Besides this, tax contribution that companies in the industry made last year reached over VND1.3 trillion, with value-added taxes paid by consumers accounting for over 35 percent and import-export tariffs making up some 38%.

VCCA also announced that the number of firms having multi-level marketing business registration certificates remained at 21 as of this month, which is three businesses less than the year-ago figure.

In general, multi-level marketing activities in the country have gradually reached the stability stage, with steadily increased sales. Multi-level companies have made contribution to the State budget, while cases causing serious consequences are no longer reported, said the trade ministry.

https://english.thesaigontimes.vn/78201/over-one million-people-join-multi-level-marketing-businesses.html

 

Category: Business, Vietnam

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