Viet Nam News:
In spite of being a fledging industry in Viet Nam, direct selling companies have achieved encouraging growth and made significant contributions to the country’s development, according to industry insiders.
Experts, speaking at a recent forum, said that following the passage of the Competition Law in 2004 and Decree 110 in 2005 direct selling was recognised as a legitimate industry in Viet Nam.
During the past five years, the industry has made considerable progress with the participation of 40 local and foreign companies and more than 450,000 distributors.
It has registered an annual sales value of more than VND1.2 trillion (US$67 million). In 2007, it achieved a sales growth rate of 16.8 per cent.
The industry has also contributed corporate income and personal income taxes of VND500 billion to state revenue.
Looe Chee Seng, general director of Amway Viet Nam, said: “The country has about 450,000 people involved in direct selling, meaning that the industry has helped a similar number of Vietnamese families improve their incomes.”
Logo from Amway