Vietnam ministry strengthens clampdown on dollar use

The Ministry of Trade and Industry has begun a new crackdown on foreign currency use, the local VietnamNet online newspaper reported.

The move, launched by Minister Vu Huy Hoang on Friday, followed the prime minister’s instruction last week that ordered authorities, including the police, to help regulate transactions in US dollars. According to VietnamNet, Hoang asked the ministry’s Market Management Department to increase inspections and crack down on the advertising and selling of products in foreign currencies. In particular, Hoang instructed the department to strengthen cooperation with authorities in Hanoi and Ho Chi Minh City to enforce the clampdown in those commercial hubs. The department must also corporate with inspectors from the central bank in its inspections. Source: Thanh Nien