Lacking funds, Vietnamese submarine never got off the ground

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VietnamNet English 6 month(s) ago

Lacking funds, Vietnamese submarine never got off the ground

VietNamNet Bridge – In the past, some Vietnamese scientists and engineers spent many years designing submarines on their own. But their works were invariably suspended when the money ran out. Now, however, the debut of a new mini-submarine, developed by Nguyen Quoc Hoa with his own money, has breathed new life into the dream of a made-in-Vietnam submarine.

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SBIC not ready for equitisation

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VietNam News English 7 month(s) ago

The Shipbuilding Industry Corporation (SBIC) is asking the Government for a special mechanism to deal with debts and negative equities of its subsidiaries before equitisation in the next 20 months.

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Vietnamese shipbuilder moves on with equitisation

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Báo Dân Trí English 7 month(s) ago

Vietnamese shipbuilder moves on with equitisation

SBIC, formerly known as Vinashin, is bracing for large losses as it proceeds with plans to change into a joint stock company in 2015.

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Vietnam state shipping firm wants to file bankruptcy for troubled subsidiary

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Báo Thanh Niên English 7 month(s) ago

Vietnam state shipping firm wants to file bankruptcy for troubled subsidiary

New Horizon, a ship owned by Vinashinlines, which was held in Pakistan for two months in 2012 when the company failed to pay its partner in that country

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Shipper initiates bankruptcy process

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VietNam News English 7 month(s) ago

Vinashin Ocean Shipping Company (Vinashinlines) has requested for bankruptcy procedures to be initiated at the Ha Noi People's Court.

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Damen-Song Cam shipyard partly put into use

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VietnamPlus English 8 month(s) ago

The Damen-Song Cam Shipyard Co. Ltd on March 20 inaugurated facilities in phase I of the Damen-Song Cam Shipyard in the northern port city of Hai Phong.

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Ministry of Transport keeps equitisation on right track

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VietnamPlus English 8 month(s) ago

The Ministry of Transport is determined to equitise SOEs under its control to improve production and business activities, Transport Minister Dinh La Thang spoke to the Tin Tuc (News) Newspaper.

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Equitisation will be expedited

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VietNam News English 8 month(s) ago 1 duplicate news

The Ministry of Transport is determined to equitise SOEs under its control to improve production and business activities, Minister Dinh La Thang spoke to the Tin Tuc (News) Newspaper.

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US – the target destination for big bosses who commit mortal sins

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VietnamNet English 8 month(s) ago

US – the target destination for big bosses who commit mortal sins

VietNamNet Bridge – Anticipating that the mortal sins they committed would cast them into prison, a lot of “big bosses” tried to escape over the border. The US proves to be the most wanted destination.

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Officials jailed for scam at Vietnam shipping company

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Báo Thanh Niên English 8 month(s) ago

Officials jailed for scam at Vietnam shipping company

Five former officials stood a trial in Hanoi for a scam at a subsidiary of the state-owned shipping giant Vinalines on February 28 / PHOTO: MAI HA

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Government-backed loans still rise despite restrictions

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SaigonTimes English 8 month(s) ago

HANOI – The total value of government-backed foreign loans still rose in 2013 though the Government has urged restrictions by approving a debt management program in the 2013-2015 period with an aim to cut guarantees for foreign loans.

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Samsung may help revive ship industry

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VietNam News English 9 month(s) ago 2 duplicate news

Samsung may help revive ship industry

The Government has called on relevant bodies to accelerate co-ordination efforts with the Samsung group to restructure domestic shipbuilding activities.

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Vietnam state shipbuilder says $374.8 mln of debts written off

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Báo Thanh Niên English 10 month(s) ago

Debt-ridden state-owned shipbuilder Vinashin said there was a VND7.9 trillion (US$374.855 million) debt write-off last year.

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SBIC yet to make gains

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SaigonTimes English 10 month(s) ago 2 related news

HANOI – Shipbuilding Industry Corporation (SBIC), successor of the heavily indebted Vinashin, has yet to gain profits as reported, but its loss has been reduced by VND7.9 trillion after financial restructuring, said SBIC chairman Nguyen Ngoc Su.

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A lot of big guys met crushing misfortune in 2013

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VietnamNet English 10 month(s) ago

A lot of big guys met crushing misfortune in 2013

VietNamNet Bridge – 2013 was a horrible year for some state owned conglomerates which were considered the “iron fists,” or the “motive force” of the national economy.

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