Vietnam’s State Shipbuilding Company Collapses

Discussion in 'Indo Pacific & East Asia' started by Armand2REP, Jun 12, 2011.

  1. Armand2REP

    Armand2REP CHINI EXPERT Veteran Member

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    Vietnam’s State Shipbuilding Company Collapses

    Anyone seeking substantial evidence of Vietnam’s unstable economy may want to take a look at the current state of Vinashin, the country’s state-run shipbuilding corporation. What was meant to be Vietnam’s first great leap into the industrial era has turned out to be a major fiasco. Vinashin was the Communist Party’s attempt to lead Vietnam’s economy into the shipbuilding arena. They had hoped to create more heavy industries in Vietnam, with Vinashin at the forefront of this path to modernization. Unfortunately for them, this dream will not become a reality. Vinashin has run up a debt of $4.4 billion, with $600 million of this money owed to foreign investors.

    Vietnam’s Shipbuilding Company Collapses « Freedom For Vietnam
     
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  3. redragon

    redragon Regular Member

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    Why you are posting some very old "news", the conclusion about this case has been made 6-8 months ago on Chinese forum.
     

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