Three years after the implementation of a government directive aimed at salvaging 12 failed business projects under the Ministry of Industry and Trade (MoIT), little progress had been made and the majority were still losing money
The Van Loi Steel Mill, a VND1.8 trillion (US$ 79 million) steel plant in the central province of Ha Tinh, has been offically closed down due to prolonged financial problems.
Formosa Plastics Group (FPG) yesterday confirmed that the scheduled
launch date for operations at a subsidiary''s steel mill in Viet Nam has
been postponed with no new schedule decided.
