Environment fund says soft loans await enterprises

Nguyen Nam Phuong, director of the fund, told participants at an investment promotion seminar in HCMC that manufacturers could take out a loan worth 70% to 75% of the total value of their projects for a term of up to 10 years and with an interest rate of 5.4% per year. Like other credit institutions, the fund requires borrowers to have certain assets as collateral for their loans. Phuong said this was a non-profit fund mandated to support production companies which are looking for … [Read more...]

Youths face extortion charges for threats to kidnap, kill, bomb

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Police in Ho Chi Minh City are seeking an indictment against two young men for threatening a business man and his family with a bomb in an attempt to extort US$20,000. A source told Thanh Nien that the plot's mastermind, 19-year-old Ngo Van Sam and his partner, 20-year-old Pham Van Cuong, are facing extortion charges. Ngo Van Sam (L) and Pham Van Cuong … [Read more...]

Police nab two men, 19 and 20, for blackmail, demanding ransom

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Two young men were arrested in Ho Chi Minh City Saturday for making death threats and collecting a US$20,000 ransom from a businessman. One of them is the victim's cousin. Police, who were informed of the threats two days earlier by the victim, Ngo Xuan Tiec, 46, president and director of the city-based Tam Sinh Nghia Investment-Development Company, caught Pham Van Cuong, 20, red-handed receiving the ransom. Ngo Van Sam (L) and Pham Van Cuong … [Read more...]