Independent journal on economy and transport policy
08:32 GMT+2
Vinashin sinking financially
(Vietnews Online)
October 15, 2009
Cam Van Kinh Vietnews Online
State-owned Vietnam Shipbuilding Industry Corporation (Vinashin) admitted Wednesday that it is running aground financially, despite being handed three-quarters of a billion dollars by the government five years ago.
Vinashin interior affair director, Ngo The Viet, told Tuoi Tre newspaper that the agency owes US$15.4 million to customs departments and partners.
He said that it is commonplace for businesses to be carrying debt under the weight of the current financial climate ...... Read more on Vietnews Online
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