HCM City ramps up efforts to crack down on loan sharks

Police in Ho Chi Minh City have taken various measures to combat loan sharks, and their efforts have paid off.

HCM City ramps up efforts to crack down on loan sharks -0
A campaign has been launched in Thu Duc city and districts in the southern largest economic hub to peel off illegal leaflets posted on walls and poles along local streets. (Photo: VNA)

A campaign has been launched in Thu Duc city and districts in the southern largest economic hub to peel off illegal leaflets posted on walls and poles along local streets, which contain advertisements for quick loans with low interest rates, ensnaring locals in never-ending debt traps.

The drive has received warm response from all-level Party Committees, authorities, youth unions, women’s unions, war veterans’ associations, and local residents.

People and businesses have also been encouraged to commit not to joining the illegal advertisement.

Thanks to such joint efforts, police in many localities in HCM City have tracked down many loan sharking rings, notably the one in Tan Binh district which imposed an annual interest rate of up to nearly 700%.

Most recently, the district’s police on May 22 detained two men who confessed that they charged a monthly interest rate of 120%, and some 50 people have been trapped.

HCM City’s Steering Committee 138 on crime prevention and control said local police will continue tracing loan sharks, and handle them strictly in line with regulations.

Society-Education

Vietnamese people in Malaysia, Thailand celebrate Tet
Society-Education

Vietnamese people in Malaysia, Thailand celebrate Tet

The Vietnamese Tet (Lunar New Year) space, jointly organised by the Vietnamese Embassy in Malaysia and the Malaysia-Vietnam Friendship Association (MVFA), officially opened at bbpark, Bukit Bintang, Kuala Lumpur capital city on January 11, marking the first time it has been held outside the premises of the embassy.

Efforts made to ensure social welfare for all on Tet
Society-Education

Efforts made to ensure social welfare for all on Tet

Deputy Minister of Labour, Invalids and Social Affairs Nguyen Van Hoi on January 8 stated that at the beginning of this year, the ministry issued a directive requesting reports on the distribution of rice and proposals for rice aid during the 2025 Lunar New Year (Tet) and the lean season as an effort to ensure social welfare during the Tet festival, and ensure no one is left behind.

Lunar New Year bonus in HCM City up 3.3%
Society-Education

Lunar New Year bonus in HCM City up 3.3%

The average bonus for the upcoming Tet (Lunar New Year) in Ho Chi Minh City is 12.7 million VND (nearly 500 USD) per person, up 3.3% from the previous year, the municipal Department of Labour, Invalids and Social Affairs reported on December 23.