Vinalines to slash stakes in two major ports

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The Prime Minister has allowed the Vietnam National Shipping Lines, or Vinalines, to divest its capital from the Hai Phong and Saigon seaports.

Vinalines' stakes in Saigon Port Company Limited and Hai Phong Port Company Limited will be slashed to 20 per cent of each of the companies' registered capital. — Photo motthegioi

HA NOI (Biz Hub) — The Prime Minister has allowed the Vietnam National Shipping Lines, or Vinalines, to divest its capital from the Hai Phong and Saigon seaports.

Vinalines' stakes in Saigon Port Company Limited and Hai Phong Port Company Limited will be slashed to 20 per cent of each of the companies' registered capital.

The Prime Minister previously agreed to let Vinalines hold 50 to 65 per cent of the Sai Gon Port's charter capital and 65 to 75 per cent of Hai Phong Port's capital, but this made the two firms less attractive to investors. Hence, the stakes were reduced further.

Currently, Saigon Port accounts for 10.5 per cent of the overall throughput in the south, while Hai Phong Port claims 28.7 per cent in the north. — VNS

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