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Hanoi: The Vietnamese government aims to halt Vietnam Shipbuilding Industry Group’s losses by 2012. Vietnam Prime Minister Nguyen Tan Dung has signed an order that sets out the restructuring plans for the insolvent state-owned shipbuilder. The Ministry of Transport has been tasked with stabilising the shipbuilder’s production and business. Vietnam’s Finance Ministry is to restructure Vinashin’s finances and assess it’s ability to repay its debts. Deputy Prime Minister Nguyen Sinh Hung told a media briefing earlier this week that the Government will work to halt the group's losses by 2012 and make it become stable by 2015.
Source: seatrade asia
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