Hanoi determined to change perception of local shipbuilding industry

Hanoi: The Vietnamese government is now clearly trying to put the embarrassing financial fall of its main shipyard group behind it and to push ahead and develop shipbuilding into a more high tech level.

A week ago the Ministry of Transport said Shipbuilding Industry Corp (SBIC) will act as a flagship firm to implement the country’s marine economic development strategy. The announcement suggests SBIC, formerly Vinashin, has come through the worst of its restructuring following its damaging bankruptcy a few years ago.

Now further details have emerged of the government’s keenness to support the shipbuilding industry once again.

A comprehensive action plan has been created to boost the sector and has just been approved by the prime minister.

“The action plan carries the dual target of reviving the industry and changing the perception that Vietnam could only build low-grade ships,” Deputy Minister of Transport Nguyen Van Cong was quoted as saying.  [20/11/14]

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