Mi Hong Company has 7 branches
Mi Hong Co., Ltd. owns the Mi Hong gold brand in the Southern market. Currently, the company has 7 branches, including 5 stores in Ho Chi Minh City and 1 store in Ben Tre, 1 store in Tien Giang.
Business data published by Mi Hong shows that the Company was first registered on October 20, 2006. The legal representative is Mr. Nguyen Tu Mi, title General Director. Head office located at 306 Bui Huu Nghia, Gia Dinh ward, Ho Chi Minh City.
The main industries introduced by the business include buying and selling gold bars and pawn services. On the website, Mi Hong said that there are currently more than 200 employees and a store system in Ho Chi Minh City.
In an interview with the press published in May 2025, Mr. Nguyen Tu Mi said that gold trading activities must "clearly list prices, sell goods with invoices, and trace origins". Businesses also focus on selecting partners with legal status, controlling cash flow, documents and updating legal regulations for employees.
These are information and commitments announced by the business. However, according to recent inspection results, compliance activities at Mi Hong still have many limitations.
Four groups of violations related to Mi Hong Company mentioned by the Government Inspectorate
On August 8, Deputy Inspector General of the Government Le Tien Dat signed a notice of inspection conclusion on the compliance with policies and laws in gold business activities and other related issues at Bao Tin Manh Hai Joint Stock Company, Bao Tin Manh Hai Jewelry Joint Stock Company and Mi Hong Co., Ltd.
In which, for Mi Hong Co., Ltd., the Government Inspectorate identified some violations.
First, the enterprise has not reported to the SBV about the termination of gold bar business activities at some branches, violating the provisions of Clause 5, Article 20 of Circular No. 16/2012/TT-NHNN dated May 25, 2012 of the SBV stipulating the reporting responsibility of enterprises and credit institutions engaged in gold business activities.
The second violation is Mi Hong Company related to the implementation of regulations on information disclosure, providing incorrect and incomplete information to customers about products that the Company has provided on the website according to regulations on e-commerce, using digital technology to trade in gold, violating the provisions of point a, clause 3, Article 26 of Decree No. 52/2013/ND-CP dated May 16, 2013 of the Government on e-commerce and the Law on Protection of Consumer Rights.
The third violation is regarding the compliance with regulations on money laundering prevention and control, which has some violations:
Failure to conduct training and professional development on money laundering prevention and control, violating the provisions of Clause 6, Clause 10, Article 5 of Circular No. 09/2023/TT-NHNN; incomplete collection of customer identification information, violating the provisions of Article 10 of the Law on Anti-Money Laundering (PCRT) in 2022; failure to update and verify customer identification information, violating the provisions of Articles 11, 12 of the Law on PCRT in 2022; failure to classify customers according to the level of risk of money laundering and apply corresponding handling measures, violating the provisions of Clause 2, Article 16 of the Law on PCRT in 2022 and Article 4 of Circular No. 09/2023/TT-NHNN; leading to consideration and administrative sanctions according to regulations.
The fourth violation is the incomplete declaration of PIT payable by members of the Member Council when transferring capital, violating the provisions of Clause 1, Clause 2, Article 10 of Circular No. 111/2013/TT-BTC dated August 15, 2013 of the Ministry of Finance.
In particular, in the inspection conclusion document, the Government Inspectorate proposed that the Prime Minister direct the State Bank to "chair and coordinate with relevant agencies to implement the direction in Official Dispatch No. 159/CD-TTg dated September 7, 2025 of the Prime Minister on directing and operating fiscal and monetary policies; especially to strengthen comprehensive and comprehensive inspection and examination to detect and strictly handle violations thoroughly. Typical are acts of manipulation, hoarding goods, pushing prices, smuggling, speculation, profiteering, illegal business of gold trading enterprises, causing instability in the gold market; including 2 enterprises: Bao Tin Manh Hai Joint Stock Company and Mi Hong Co., Ltd.".
The Government Inspectorate also proposed that the Prime Minister direct the Ministry of Public Security to coordinate with the State Bank of Vietnam and relevant agencies to implement the Prime Minister's direction in Document No. 8390/VPCP-V.I dated September 8, 2025 of the Government Office on the gold market situation in the past time; Especially to handle "uncompromisingly" acts of smuggling, fraud, tax evasion, speculation for profit, illegal business, hoarding goods, manipulating the gold market of gold trading enterprises, including 2 enterprises: Bao Tin Manh Hai Joint Stock Company and Mi Hong Co., Ltd.
