Ho Chi Minh City authorities have fined several gold shops and seized untraceable jewellery as part of a market crackdown on unlicensed trading, according to local reports. The operation, conducted by the city's market management forces, targeted establishments suspected of violating regulations on gold and jewellery trading.
During the inspections, officials discovered a range of jewellery items without proper documentation, making it impossible to trace their origin. The seized items included gold rings, necklaces, and bracelets, which were confiscated for further investigation. Shop owners were fined for operating without the required licenses and for failing to maintain proper records of their inventory.
The crackdown is part of a broader effort by Vietnamese authorities to regulate the gold market and combat illegal trading activities. In recent years, the government has implemented stricter measures to ensure transparency and traceability in the precious metals sector, aiming to protect consumers and maintain market stability.
Local media reported that the fines amounted to several tens of millions of Vietnamese dong, though exact figures were not disclosed. The authorities have warned that further inspections will be conducted in the coming weeks to ensure compliance with the law.
