Opinions from a well-informed circle say South Korean and Japanese “big guys” would jump into the Vietnamese shipbuilding industry. Does it mean the shipbuilding industry will be saved?

A project of Nam Trieu Shipbuilding Corporation left idle

The bankruptcy of the Vietnam Shipbuilding Industry Group (Vinashin) has caused the delay of many projects, leading to serious land waste in Haiphong city, affecting local households.

Over the past years, a number of Vinashin affiliates have rushed to take on projects in Thuy Nguyen District. However, the idea of industrialisation and modernisation of the district failed after Vinashin’s bankruptcy.

Troubled state ship builder Vinashin, which had become a byword for corruption and financial mismanagement, has finally been disbanded, as the Ministry of Transport last week announced their decision to set up the Shipbuilding Industry Corp to replace the state-owned enterprise suffering from excessive debts.

The Ministry of Transport has decided to shut down the troubled Vietnam Shipbuilding Industry Group (Vinashin).

On October 21, the ministry set up the Shipbuilding Industry Corp (SBIC) to replace the Vietnam Shipbuilding Industry Group as a part of its efforts to speed up the restructuring of the group.