Amway Vietnam ranked first among direct selling companies in Vietnam in 2014, in terms of revenue, number of participants, commissions and other economic benefits offered for sellers, according to a recent report released by the Vietnam Competition Authority under the Ministry of Industry and Trade.
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Amway Vietnam ranked first among direct selling companies in Vietnam in 2014, in terms of revenue, number of participants, commissions and other economic benefits offered for sellers, according to a recent report released by the Vietnam Competition Authority under the Ministry of Industry and Trade.
According to the report, there are a total of 105 direct selling companies in Vietnam, employing 600,000 people, with the total revenue of VND6 trillion ($282 million) and paying VND520 billion ($24.4 million) in tax.
Amway Vietnam, a subsidiary of American direct selling company Amway, sells health and beauty products as well as some household goods. It has been present in Vietnam since 2008. Amway has its headquarter and one factory located in the Amata Industrial Park in Bien Hoa city, Dong Nai province, as well as branches in Ho Chi Minh City, Hanoi and five other provinces. The company owns two stores and training centres in Ho Chi Minh City and Hanoi.
In March last year Amway began construction of its $25 million second plant in the Vietnam-Singapore Industrial Park II in the southern province of Binh Duong . The new plant has an area of 5.4 hectares, seven times larger than the first one, and the capacity of 23.2 million products worth about $200 million per year.
In 2014 the government issued a decree and a circular on direct selling, stipulating that all agents participating in such activity must hold certification by the Vietnam Competition Authority. The decree is praised by companies as promoting professional conduct and helping to increase buyers’ trust by enabling them to distinguish lawful direct selling from illegal pyramid schemes.
(Source: VIR)
