Travel firms fined for listing prices in US dollars

The State Bank of Vietnam has fined three more businesses for listing their tour prices only in US dollars.

The State Bank of Vietnam (SBV) has fined three more businesses for listing their tour prices only in US dollars.

The highest fine for foreign currency transaction violation is VND500 million

Diamond for Life Ltd. Co., DHT Minh Tien Ltd. Co. and DHT Minh Phu Ltd. Co. all in the southern province of Dong Thap Province were found to have violated the law which requires businesses to advertise prices in VND.

Two firms were fined VND11.33 million (USD539.5) each and the third VND5 million (USD238).

The SBV recently fined Thong Nhat Metropole Hotel Joint Venture Ltd. Co., which is the major stakeholder in Hanoi's high-profile five-star Sofitel Metropole Hotel, VND500 million (USD23,800) for listing prices on the menus of their restaurants and bars in US dollars. They have also allegedly signed contracts to lease spaces using US dollars instead of local currency.

Earlier, FPT University, along with two other companies, Ngoc Long Trading and Gold Manufacturing Company and My Phuong Gold Private Enterprise were also fined for similar violations.