Gov’t declares serious review of Vinashin case 

Last updated: 11/9/2010 18:00 

The government has promised to review the case of shipbuilder Vinashin seriously

Prime Minister Nguyen Tan Dung has said all members of the government have to seriously review their responsibility in the problems that state-owned shipbuilding group Vinashin is caught in.

“We will consider carefully the responsibility of the government, headed by myself, in state management and ownership management; criticism and conclusions will be made,” Dung was quoted as saying in a report on news website VietNamNet on Sunday. He said the government will need to be “calm” when dealing with the case.

Dung's statement was made during a meeting last weekend when members of the cabinet discussed many key issues, including the case of Vinashin, which has been driven to the brink of bankruptcy with huge debts. 

Speaking to the press after the cabinet meeting, Chairman of the Government Office Nguyen Xuan Phuc said Vinashin has been reorganized and its workers' jobs have been secured.

The group has sold several ships, including large ones worth more than US$150 million, he said.

As of June this year, the company had accumulated debts totaling VND86 trillion (US$4.4 billion), leading to an investigation and the initiation of a large-scale restructuring effort.

Phuc said eight Vinashin officials have been arrested in the mismanagement probe so far.

The government was severely criticized during the ongoing National Assembly session for letting the problems grow, imposing the burden of huge debts on common citizens.

Source: Thanh Nien

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