As of October Vishanin, the state-run Vietnam Shipbuilding Industry Corporation had divested from 22 units and subsidiaries, and dissolved 16 others under its reformation process, Prime Minister Nguyen Tan Dung has said. In his document released to answer questions from National Assembly deputies that he did not have enough time to address during the NA [...]
Outstanding debts of Vietnam Shipbuilding Industry Group (Vinashin) at Bank for Investment and Development of Vietnam (BIDV) were estimated at VND6.6 trillion Outstanding debts of Vietnam Shipbuilding Industry Group (Vinashin) at Bank for Investment and Development of Vietnam (BIDV) were estimated at VND6.6 trillion, the local online newspaper VnEconomy.vn quoted Tran Bac Ha, Chairman of [...]
Vietnam Shipbuilding and Industry Group (Vinashin) was allowed to get zero interest rate loans from Vietnam Development bank (ADB) for salaries and wages payment up to Dec 31, 2011. However, this group has recently re-applied for the additional loans Vinashin continues getting difficulties in finance sources to pay salaries, wages and other social benefits, the [...]
Vietnam Shipbuilding Industry Group (Vinashin) is one of 27 state-owned corporations and groups to be equitized in the 2015-2020 period, according o the local newswire VnExpress. Vietnam now has more than 1,300 fully state-own enterprises (SOEs). The government will continue to restructure these firms’ ownership and operation from now to 2020, Pham Viet Muon, head [...]
World Bank’s country director in Vietnam, Victoria Kwakwa confirmed prior to Consultative Group meeting that the bank will continue the funding programs for Vietnam despite worrisome on the SOE reform process, the local newswire VnExpress reported. She remarked WB would not lend Vinashin and Vinashin case will also affect negatively to our activities in Vietnam. [...]
What will happen with Vinashin, which is facing a lawsuit to be raised by foreign creditors? The fact that Vinashin still has not reached any agreement with foreign creditors about the way to deal with the 600 million dollar debt has caught the special attention from the public. One of the creditors has decided to [...]
“We are ready to buy back all the debts of Vinashin at the price which is equal to 35 percent of the face value, or 210 million dollars (the original price is 600 million dollars), and we will pay money at once,” the chair of a big bank in Vietnam has stated. Not only the [...]
Phung Quoc Hien, chairman of National Assembly Finance & Budget Committee, said that “Vinashin’s debts must be solved under market mechanism”. Hien saying came after the news that Vinashin and its subsidiaries were brought to court in London related to $600 million loans. Hien said “restructuring corporations are under discussion, especially Vinashin’s, restructuring Vinashin will [...]
Concerning the lawsuit related to Vinashin Group’s debts without the government guarantee, Deputy Prime Minister Vu Van Ninh confirmed that the national shipbuilder would have to repay the debts by itself, the Saigon Tiep Thi reported on Monday [Nov 14]. Ninh was speaking to the reporters in the sideline of National Assembly meeting However, as [...]
State-owned Vietnam Shipbuilding Industry Corporation’s frauds cost the state budget VND907 billion ($45.35 million), the Ministry of Public Security has said. The ministry also suggested prosecuting 9 top executives at Vinashin and its affiliates for “deliberately acting against the state’s economic management regulations and causing serious consequences.” In 2007, Vinashin’s chairman cum CEO Pham Thanh [...]
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