Vinashin has 40-year-old CEO

Transport Minister Dinh La Thang has officially appointed Vu Anh Tuan as acting general director of the Vietnam Shipbuilding Industry Corporation (Vinashin) from March 1, 2013.

Tuan will replace Truong Van Tuyen, Vinashin’s former CEO, who already reached retirement age.

Tuan will replace Truong Van Tuyen, Vinashin’s former CEO, who already reached retirement age.

The 40-year-old Tuan, who graduated from the National Economics University, was general director of Pha Rung Shipyard Ltd Company under the management of Vinashin before assuming the new post.

Shipbuilder Vinashin, a state-owned group founded in 1996, almost collapsed in 2010 after it accumulated an enormous debt of over $4.11 billion.

In March 2012, nine members of the group were convicted and sentenced to jail by a court in Hai Phong northern city for causing a total loss of VND910 billion (US$43.54 million) to the state budget.

Pham Thanh Binh, 59, former chairman of the group, was jailed 20 years for “intentionally violating economic management regulations, which causes serious consequences” during his time at the giant shipbuilder.

His eight accomplices received jail terms ranging from 3 years to 19 years for their involvement.

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