|
DPM Hung talks about three-step restructuring of Vinashin
Deputy PM Nguyen Sinh Hung said that the Government is undertaking three-step process, namely consolidation, stabilization, and development, to comprehensively restructure Vinashin Group.
The Permanent Deputy PM yesterday afternoon joined the NA interpellationon on restructuring Vinashin, the mainstay of Vietnam’s shipbuilding industry.
The golden time of Vietnam’s ship-building industry was between 2005-2006, but like many other countries, the industry began to go through hardships since the outbreak of the global financial crisis and economic downturn in 2008, said Mr. Hung.
Without capital pumped into the ship-building industry, many Vinashin shipbuilding plants came to a deadlock.
The circumstance raised the necessity to restructure the Group as way to develop the shipbuilding industry and realize the sea strategy.
Through the restructuring process, Vinashin itself must clear its debts, restore and develop further, Deputy PM Hùng stressed.
Effective way out found
The restructuring process began in 2008 when the Group cut down investment projects and withdrew capital from projects in other fields. The number of projects fell down from 185 to 106 and then just13.
This year, some of Vinashin’s affiliates have been transferred to Vinalines and PetroVietnam.
The Government has been conducting the third step of the restructuring process for six months in an effort to renew and push up the development of Vinashin.
Production activities continue to bounce back. Contracts for 130 new ships are still maintained, the construction of 27 other half-done ships is resumed, and 28 shipbuilding factories have recovered their operations.
In 2010, Vinashin has built 66 ships while its preset target is 57, the Deputy PM revealed.
Vinashin is on way to negotiate for 110 new shipbuilding contracts in 2011.
Toward profit-making future
Regarding Vinashin’s debt clearance, Deputy PM Hung said that the Group’s affiliates must be restructured instead of being undersold.
Admitting that the restructuring process is not easy, Deputy PM Hung stated that a bright future will come if Vinashin has a good management board. It can gradually pay off its debts by 2013-2014.
As Chairman of the Committee for restructuring Vinashin, Deputy PM Hung expected to see the public consensus for the three-step restructuring process which will help to push Vinashin forwards.
Hai Minh
vgp news
|
