On August 6, 2025, the Economic Police of Lam Dong Provincial Police simultaneously inspected six companies in Ham Thang commune.
The police were present at three locations in Ham Thang commune, including Hong Ngoc Viet Commercial Services Joint Stock Company.
Hong Ngoc Viet Company specializes in debt trading brokerage, debt trading consulting, and debt trading services with Mr. Phung Anh Tuan as Chairman of the Board and legal representative.
Immediately upon arriving at the companies’ headquarters, Lam Dong Provincial Police worked with related individuals inside.
Hong Ngoc Viet Company was established on May 9, 2022, with an initial charter capital of VND 1 billion. Mr. Phung Anh Tuan contributed VND 900 million, and the other two shareholders, Mr. Tran Minh Luan and Mr. Nguyen Quoc Tuyen, contributed VND 50 million each. The company specializes in trading fertilizers, pesticides, agricultural chemicals, and plant varieties.
Just four months after its establishment, the company raised its charter capital to VND 20 billion, and less than a year later, it continued to increase significantly to VND 110 billion.
In January 2025, Hong Ngoc Viet shifted its focus to the financial services sector, adding debt trading brokerage, consulting, and services to its business lines.
Dealing with Debt in Commercial Activities
The use of credit has become an indispensable part of commerce, enabling businesses to be flexible in sales and service delivery. Using credit is not only about understanding the financial situation of customers, but also a business strategy. However, determining the value of credit, the repayment terms, and the recovery process for maximum effectiveness is always a complex challenge for business owners.
