Brian Jeffrey
Nguyen Thi Bich Ha, a resident of Ba Ngoi ward in Cam Ranh City, expressed her exhaustion due to the increasing debt of hundreds of millions of dong from lobster farming activities.
Ha, who suffers from poor health, mentioned that her husband works as a diver, while their children reside with relatives.
The couple initially started with a few lobster cages but eventually expanded to 30 cages after selling lobsters worth VND500 million in the past.
However, the merchants have not paid for the lobsters they collected, leaving Ha and her husband in a precarious financial situation.
Ho Thi Chanh, another resident of Cam Ranh, lamented the burden of a VND7 billion debt owed to a bank, along with monthly interest payments.
Chanh sold lobsters to a broker named Tran Huu Tranh, who promised payments but has failed to repay the VND6 billion debt since mid-2022.
Due to the non-payment by merchants, Chanh had to mortgage her assets to secure additional loans and settle the outstanding lobster transactions.
Similarly, Truong Van An now faces financial struggles after being owed VND11 billion by Tranh, escalating the lobster farming community’s challenges.
To address the merchants’ non-payment issues, affected farmers have taken the matter to the authorities for further investigation.
