Vietnam store fined $22,500 for accepting dollars, yuan

Thanh Nien News

Email Print

The store Ngoi Nha Mo Uoc in Ha Long Town. Photo credit: VnExpress The store Ngoi Nha Mo Uoc in Ha Long Town. Photo credit: VnExpress


A store in the northern town of Ha Long has been fined VND500 million (US$22,500) for accepting payment in US dollars and yuan, local media reported.
On July 23, authorities inspected the Ngoi Nha Mo Uoc (Dream House) store on National Highway 18A and found prices of many products being listed in the foreign currencies, a practice that is banned in Vietnam. The store sells furniture, bedding and clothes, among other products. 
The store owner Bui Thi Muoi admitted to the violation. The fine was issued by the State Bank of Vietnam.
Earlier on May 30, inspectors found the same violation at the store and even caught an employee accepting Taiwan dollars. They proposed a hefty fine of VND800 million.
However, the State Bank of Vietnam did not approve the fine, saying the case had expired by the time they received relevant documents from Ha Long authorities.
In January, an investigation by Dan Viet news website found the store and two others in Ha Long, Hai Anh and Tan Sinh The, listing prices in foreign currencies.
The three shops reportedly served only Chinese tourists and were owned by Chinese people, the news website reported.

More Business News