Vinalines

Update news Vinalines

Vinalines officials in jail for power abuse

 VietNamNet Bridge – The Ha Noi People's Court last week sentenced Bui Quoc Anh, former deputy general director of the Viet Nam National Shipping Lines (Vinalines), to three years in prison for "abusing power while on duty".

Corruption cases blight SOEs

 VietNamNet Bridge – Policy loopholes are the cause of the most dangerous types of corruption, according to National Assembly Deputy Nguyen Minh Thuyet while talking with Ha Noi Moi (New Ha Noi) newspaper.

Former Vinalines chief reveals senior police officer as informer

Duong Chi Dung – Vinalines former chief  - yesterday declared Deputy Minister of Public Security – Mr. Pham Quy Ngo – as the one who informed him of the prosecution, which helped Dung flee Vietnam in May 2012.

Two former Vinalines bosses face death sentence

 The Hanoi People’s Court on December 16 sentenced to death two former executives of the Vietnam National Shipping Lines (Vinalines) who went on trial on December 12.

Vinalines asks for Government aid

 Vietnam National Shipping Lines (Vinalines) has proposed that the Government adopt preferential policies to help domestic shipping fleets overcome difficulties, according the online Vietstock newspaper.

Death penalty proposed for Vinalines former bosses

 The Hanoi People’s Procuracy has demanded death penalty for two former executives of the Vietnam National Shipping Lines (Vinalines) who went on trial on December 12.

Trial opens for former Vinalines boss

VietNamNet Bridge – The Hanoi People’s Court on Dec. 12 began the first-instance trial of Duong Chi Dung, former chairman of the Vietnam National Shipping Lines and his accomplices on charges of intentionally violating State regulations

Former Vinalines leaders to stand trial next week

 VietNamNet Bridge – The former chairman of the Viet National Shipping Lines (Vinalines) will stand trial next Thursday, December 12, in what is considered one of the most anticipated corruption trials in recent years.

State groups owe over $64.3 billion

 VietNamNet Bridge – Many state corporations have the debt-to-equity ratio of up to a dozen times. Overdue debts of the Vietnam Oil and Gas Group or the Vietnam Maritime Corporation are up to trillions of VND.

Two former Vinalines leaders prosecuted for corruption

VietNamNet Bridge – Two former leaders from a subsidiary of the Vietnam National Shipping Lines (Vinalines), along with two accomplices are being prosecuted for “asset misappropriation” in the Floating Dock 83M case.

Official: Vinalines corruption case challenges Vietnam’s anti-corruption will

VietNamNet Bridge – Duong Chi Dung’s corruption case at Vinalines has aroused great public criticism and the punishment he gets will measure the country’s anti-corruption will, one official has said.

Shipping firms still cannot find the way out

 VietNamNet Bridge – A lot of the enterprises in the maritime transport, the industry which has great advantages to develop and receives big investments, have been on the verge of bankruptcy.

BUSINESS IN BRIEF 27/7

 Samsung exports three times higher than city’s IPs, EPZs; Policy incentive boost for high tech projects; Piaggio Vietnam’s test track system opened; Japan retailer Nojima enters local electronics market

Deputy PM answers questions on economic growth and restructuring

 VietNamNet Bridge – Deputy Prime Minister Nguyen Xuan Phuc has declared that economic restructuring, especially of State groups and the banking system, has led to positive results for Viet Nam.

Vietnam considers equitizing sea ports

From now to 2014, the first-class stated owned ports -- namely Hai Phong, Da Nang, Quang Ninh, Saigon and Quy Nhon would undergo the equitization process, during which 25-49 percent of the state’s capital would be sold.

SOE restructuring still far from finish line

VietNamNet Bridge – Restructuring of State-owned enterprises (SOE) is moving at a snail’s pace and it will take many more years until the process is completed,

Seven ships to be sold to pay crews

The ships of the Vietnam Shipping Lines Corporation (Vinalines) that have anchored abroad for a long time are expected to be sold out in June to cover debts and pay the salaries for the crews.

Colonel arrested for assisting Duong Chi Dung’s escape

On February 24, Colonel Duong Tu Trong was arrested for investigation related to his help to his elder brother Duong Chi Dung (former director of the Vietnam Maritime Administration) flee.

Vinashinlines to go bankrupt

The Vinashin ocean shipping company will be one of two subsidies of the Vietnam Maritime Corporation (Vinalines) that will be permitted to go bankrupt in the process of restructuring Vinalines.

Omitting corruption - why the inspector’s responsibility not in consideration?

Inspectors and auditors investigated Vinashin and Vinalines for many times without detecting any problems. When corruption was detected, why are the responsibility of inspectors and auditors not considered?