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Update news Vinashin
VietNamNet Bridge – The Viet Nam Shipbuilding Industry Group (Vinashin) would need nearly VND1.2 trillion (US$57.1 million) to pay out redundancy entitlements for 14,000 employees laid off under the company's restructuring plan.
VietNamNet Bridge – The State Capital Investment Corporation (SCIC) and Debt and Asset Trading Corporation (DATC) will join hands to help restructure Viet Nam Shipbuilding Industry Group (Vinashin).
VietNamNet Bridge – According to the state-owned shipbuilding company Vinashin’s plan to restructure and revamp, the company intends to keep only a workforce of 8,000 workers and lays off nearly 14,000 others.
VietNamNet Bridge - According to the Resolution of the cabinet meeting in July 2013, the government agreed to issue a separate resolution on the issuance of international bonds.
According to Mr. Nguyen Ngoc Su, Chairman of the Management Board of the Vietnam Shipbuilding Industry Group (Vinashin), the group has a feasible plan to restrict its debts and the plan is scheduled to complete in 2014.
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.
Ship owners have put their old ships on sale to get money to stop loss. However, it’s very difficult to find buyers at this moment, when even ship demolishing companies also refuse with a shake of the head.
The debt of $600 million, together with interest of the Vietnam Shipbuilding Industry Group (Vinashin) has been agreed by over 51% of the creditors to convert into new bonds, with a term of 12 years.
VietNamNet Bridge – Minister of Transport, Dinh La Thang, has appointed Mr. Vu Anh Tuan as the new General Director of Vietnam Shipbuilding Industry Group (Vinashin), beginning March 1.
The Ministry of Transport (MOT) believes that it would be better to demolish old ships and sell as scrap iron. However, the current laws don’t allow to do this.
VietNamNet Bridge - Credit Suisse has sent a letter to 20 other creditors of Vinashin, informing them that it will approve the Vinashin restructuring plan and suggesting they follow.
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?
In late afternoon on August 4 of over two years ago, along with the public's coil on the arrest of the Vinashin's Chair - was the government's regular press conference, a special one because it was chaired by Deputy PM Nguyen Sinh Hung.