Raid in Saigon Square: Thousands of counterfeit luxury items confiscated!

Raid in Saigon Square: Thousands of counterfeit luxury items confiscated!

On May 29, 2025, the Ministry of Internal Market Management and Development conducted comprehensive inspections at the Saigon Square Trade Center. Six working groups had come together to take action against the widespread problem of counterfeit products. Many small traders responded to the impending controls by hastily closing their stalls. The security team was active and used a walkie-talkie system to ask traders to close their stores.

During the inspections, the team discovered a large number of counterfeit goods. These were luxury items such as watches from brands such as Rolex, Longines and Patek Philippe as well as handbags and wallets from LV, Gucci, Dior and Chanel. All products discovered showed clear signs of counterfeiting and did not meet the high packaging and processing standards of the original manufacturers. In addition, the price of these counterfeit products was far lower than the originals, which poses a significant risk to consumers if they fall for such offers.

Continuous inspections and the threat of counterfeiting

Mr. Tran Viet Hung, head of the market management department, said inspections in Saigon Square will continue to address commodity law violations. It is estimated that the amount of goods seized will be in the thousands. These measures are necessary because negligent local administration repeatedly leads to such violations in the trade of goods, thereby seriously jeopardizing consumer trust.

This current inspection follows a similar inspection at the end of 2024, which already discovered thousands of counterfeit products in the same market. Many stalls were covered with tarpaulins during the inspection and were not accessible to buyers, which is another indication of the traders' illegal business practices.

The bigger picture: Saigon Square and global counterfeits

The problem in Saigon Square is not new. Back in November 2022, traders hastily left their stores when a market surveillance authority arrived. However, although the mall resumed operations three months later, the number of shoppers remained below expectations. This shows that consumer confidence suffers greatly under the shadow of counterfeits. On January 31, 2023, the market was even added to the U.S. Notorious Markets List (NML). Trade Representative, a list of places known for trading in counterfeit luxury goods.

The U.S. Trade Representative provides a critical perspective on Vietnam's efforts to enforce anti-counterfeiting laws. While the recognized efforts are praised, the penalties for such violations are criticized as inadequate. The global counterfeit market is enormous - according to reports, it is estimated at $3,000 billion.

In comparison, the volumes of seized counterfeit goods in Vietnam remain relatively low. For example, only 1,276 counterfeit items worth $5,000 were seized at Ben Thanh Market in 2020. This contrasts with the significant losses caused by counterfeiting in countries such as the United States, which are approximately $30 billion annually.

The situation highlights that trade in counterfeit products is an international problem that affects not only the economy but also consumer trust in market systems. Saigon Square is a microcosm for the challenges and risks that counterfeiting poses.

and thesaigontimes.vn highlights that….