A process has been started to allow the Vietnam Shipbuilding Industry Corporation (SBIC) to declare bankruptcy, according to the deputy minister of transport Nguyễn Xuân Sang.
Shipbuilding Industry Corporation (SBIC), previously known as Vinashin,
will sell its entire holding of nearly 4.48 million shares, equivalent
to 7.53 per cent stake, in PetroVietnam Marine Shipyard (PV Shipyard).
Prime Minister Nguyen Tan Dung accepted the proposal of the
Shipbuilding Industry Corporation (SBIC) to sell 70 per cent of Damen
Song Cam Shipyard to the Netherlands'' Damen Shipyards Group.
Well-known shipbuilding firm Damen of the Netherlands is expected to buy
a 49 per cent stake in the Ha Long shipbuilding company, the
Shipbuilding Industry Corporation (SBIC) said.
The state-run Shipbuilding Industry Corporation (SBIC) successfully
restructured US$135 million of its foreign debt and VND16.61 trillion
($790.95 million) of its domestic debt in 2014, CEO Vu Anh Tuan
revealed.
The Government has called on relevant bodies to accelerate co-ordination
efforts with the Samsung group to restructure domestic shipbuilding
activities.
The Shipbuilding Industry Corporation (SBIC) has signed a memorandum of
understanding with Damen, one of the leading shipyard groups of the
Netherlands, to develop business cooperation.
The Shipbuilding Industry Corporation (SBIC) begins operations this
month as part of the restructuring of the heavily indebted Viet Nam
Shipbuilding Industry Group (Vinashin).