SBIC is confronting many domestic competitors such as shipbuilding companies from the Ministry of National Defence, Ministry of Agriculture and Rural Development, corporations and private shipbuilding companies. — Photo ship.gr

HA NOI (Biz Hub) — The Việt Nam Ship Building Industry Corporation (SBIC) plans to earn nearly VND7.63 trillion (US$341.5 million) in revenue in 2017, 3 per cent to 4 per cent higher than 2016.

In a financial report sent to the transport and finance ministries recently, SBIC said the corporation showed only a slight increase in revenue for next year because it was still faced with numerous difficulties and challenges during the restructuring of the organisation, which included financial restructuring.

At that time, it was really difficult for the corporation members to access loans from commercial banks to build new ships.

In addition, the corporation said it was confronting many domestic competitors such as shipbuilding companies from the Ministry of National Defence, Ministry of Agriculture and Rural Development, corporations and private shipbuilding companies.

The domestic shipbuilding market is being narrowed down with high competition among businesses, the corporation said in the report.

At present, the corporation's new products for export are mainly for its traditional customers such as Damen Group or passenger ships for Australian owners.

In the report, SBIC proposed to the government and relevant ministries and sectors to let it join shipbuilding projects which used the State's budget. The projects are to build fisheries surveillance vessels, rescue ship, patrol boats, and vessels that supply repair and maintenance services. — VNS