Showing posts with label counterfeit. Show all posts
Showing posts with label counterfeit. Show all posts

Friday, October 22, 2010

More counterfeit products flood Vietnamese market

rolex
Photo: AFP

The production and trade of fake products was becoming increasingly common, said Deputy Minister of Industry and Trade Nguyen Cam Tu.

Many officials agreed with the deputy minister that fake products were pervasive during a meeting which has been held to review the Prime Minister's direction No 28/2008/CT-TTg to fight the production of counterfeit goods.

Fake products are available across the country in urban centres and in rural markets.

Counterfeit goods are produced with sophisticated methods and modern technology, which makes it hard for consumers to distinguish between fake and genuine products, reported the Vietnam Fake Production Prevention and Trademark Protection Association.

Fake wine accounts for 20 to 50 percent of the market share.

Popular methods of marketing fake products include producing counterfeit registered trademarks. Production can include the use of low-quality materials mixed with genuine products.

Modern technology gives producers of fake goods the opportunity to sell well-forged products, including official-looking wrapping and labeling.

However, the lack of a legal framework and technology to evaluate products, and ineffective co-operation between relevant ministries and agencies makes it difficult for authorized agencies to stamp out the production and trade of counterfeit products, according to the association.

"The lack of comprehensive cooperation by relevant agencies and essential tools to conduct their work hinders the fight against counterfeit products," said Chairman of the Vietnam Anti-Fake Production and Trademark Protection Association Le The Bao.

Meanwhile, businesses themselves paid little attention to protecting their products with registered trademarks, he said.

The association proposed the Ministry of Justice to give Market Watch groups the power to punish violators to help improve the situation rather than keeping that capacity solely with chairmen of local People's Committees which is currently the case, he said.

"Businesses should actively work with authorized agencies to protect their trademarks," Bao added.

Deputy Minister Tu proposed the establishment of a decree on punishing producers and traders of fake products.

It was also essential to review and finalize all legal regulations against counterfeit and low-quality products and supplement the regulations on prosecuting violators, he said.

"Increasing information dissemination to raise public and business awareness about protecting their legal rights is also important," he added.

During the first six months of the year, market watch forces nationwide handled nearly 41,000 violation cases, according to the Ministry of Industry and Trade.

Related Articles

Wednesday, October 20, 2010

More counterfeit products flood Vietnamese market

The production and trade of fake products was becoming increasingly common, said Deputy Minister of Industry and Trade Nguyen Cam Tu.     


 Many officials agreed with the deputy minister that fake products were pervasive during a meeting held on Sept. 6 to review the Prime Minister's direction No 28/2008/CT-TTg to fight the production of counterfeit goods.    


Fake products are available across the country in urban centres and in rural markets.   


Counterfeit goods are produced with sophisticated methods and modern technology, which makes it hard for consumers to distinguish between fake and genuine products, reported the Vietnam Fake Production Prevention and Trademark Protection Association.   


Fake wine accounts for 20 to 50 percent of the market share.   


Popular methods of marketing fake products include producing counterfeit registered trademarks. Production can include the use of low-quality materials mixed with genuine products.   


Modern technology gives producers of fake goods the opportunity to sell well-forged products, including official-looking wrapping and labelling.   


However, the lack of a legal framework and technology to evaluate products, and ineffective co-operation between relevant ministries and agencies makes it difficult for authorised agencies to stamp out the production and trade of counterfeit products, according to the association.   


"The lack of comprehensive cooperation by relevant agencies and essential tools to conduct their work hinders the fight against counterfeit products," said Chairman of the Vietnam Anti-Fake Production and Trademark Protection Association Le The Bao.   


Meanwhile, businesses themselves paid little attention to protecting their products with registered trademarks, he said.   


The association proposed the Ministry of Justice to give Market Watch groups the power to punish violators to help improve the situation rather than keeping that capacity solely with chairmen of local People's Committees which is currently the case, he said.   


"Businesses should actively work with authorised agencies to protect their trademarks," Bao added.   


Deputy Minister Tu proposed the establishment of a decree on punishing producers and traders of fake products.   


It was also essential to review and finalise all legal regulations against counterfeit and low-quality products and supplement the regulations on prosecuting violators, he said.   


"Increasing information dissemination to raise public and business awareness about protecting their legal rights is also important," he added.   


During the first six months of the year, market watch forces nationwide handled nearly 41,000 violation cases, according to the Ministry of Industryand Trade./.     

Related Articles

Thursday, September 23, 2010

Large gold trader warns of counterfeit product

Large gold trader warns of counterfeit productVietnam’s largest gold trader, SJC, on Thursday alerted the public that counterfeit products bearing the company logo are circulating on the market.

The company has offered to verify the quality of all gold bars bearing its brand name, free of charge.

Real SJC gold bars are 99.99 percent pure, while counterfeit products have less gold content, between 95 percent and 98 percent, the company announced at a press briefing.

With gold values hovering at around VND29 million per tael, buyers of these counterfeit gold bars can expect to lose some VND1 million on every one-tael bar they purchase, the Ho Chi Minh City-based company said. A tael is equal to 1.2 ounces of gold. 

SJC also warned that some sellers are shaving a small amount of gold off the four corners of SJC bars, robbing buyers of between 0.7-1.2 grams. The trick allows these sellers to skim VND1.1 million off every one tael.

While it is easy to spot a gold bar that has had its corners sheared, buyers may find it difficult to tell the difference between a real SJC gold bar and a counterfeit one, the company said.

Nguyen Thanh Long, general director of SJC, said his company has been trading gold in Vietnam for 20 years and has produced a total of  600 tons. SJC dominates the trade, Long said, with approximately 80 percent of the market. 

There has never been any quality issues with SJC products over the years, Long said.

“We decided to alert local consumers because this is a new problem,” he said, noting that company sales could be affected.

Long said that SJC will improve its product design next month to foil counterfeits.

The company advised gold buyers to request a receipt for every purchase. The receipts should feature a product serial number printed on it to protect buyers.

Vietnam is one of the world’s largest gold consumers. Home and land used to be evaluated and traded mainly in gold.

Since its value has skyrocketed, the precious metal gradually lost its popularity in daily trading activities. Many Vietnamese continue to purchase and keep gold as a means of savings.

Related Articles