Vietnam has 21 multi-level marketing companies as of August 2020. Photo by Shutterstock/Jirsak.
The number of participants in multi-level marketing declined by 12 percent in 2019 though sales rose by 16 percent.
There were 24 multi-level sales companies for whom more than 1.1 million worked, according to figures released by the Competition and Consumer Protection Department under the Ministry of Industry and Trade. Half of them managed to achieve sales and received commissions.
The companies’ revenues topped VND12.57 trillion ($542.5 million).
The department said new technologies would be used to exert greater regulatory control over multi-level marketing businesses from the licensing process onwards.
So far this year 21 companies have been issued multi-level marketing licenses, it added.