A government report has confirmed that Vietnam National Shipping Lines' (Vinalines) debts are much greater than its charter capital. The report, signed by Minister of Transport Dinh La Thang was released to the on-going session of the National Assembly. Vinalines debts are much greater than its charter capital. The report showed that prior to 2009, the firms had operated well, but since then it had fallen victim of several stagnant projects, incurring major debts. By the end of 2010, Vinalines' debts were 4.27 fold greater than its charter capital and business efficiency had sharply decreased, in addition to servicing high interest loans. Vinalines has faced losses since 2011 and this has continued in the first four months of this year. Besides the negative impact of the economic downturn, lax supervision by the Ministry of Transport and internal disunity among Vinalines' management were cited as causes for the shipping giant's failures. Vinalines management approved the purchase of a used floating dock that was manufactured back in 1965 for a total cost of USD13.5 million for use in a shipyard they had planned to construct in Ba Ria-Vung Tau Province. The dock, which had been de-listed from active service by the Russian Maritime Register of Shipping, was obsolete and the purchase triggered the arrest of a number of Vinalines officials on corruption charges. Following an investigation by the Government Inspectorate, the Prime Minister demanded the Ministry of Transport tighten control over the investment in the ship repair project. The ministry was also required to explain the late submission of a plan on the development on shipbuilding industry sector by 2020 with a vision to 2030. Minister of Transport Dinh La Thang said the ministry had fulfilled its responsibility on managing Vinalines and the corporation had developed well over a long period of time. Ministry of Planning and Investment denies involvement in Vinalines scam Answering a question from National Assembly Deputy Le Thi Nga from Thai Nguyen Province about Vinalines' violations, Minister of Planning and Investment Bui Quang Vinh said the ministry was not responsible. He added that, under the current laws, state-owned corporations and groups were liable for their own decisions and had not needed to inform the Ministry of Planning and Investment (MPI) about their projects, therefore, the MPI do not know their problems. Finance Minister Vuong Dinh Hue also said that the Government Inspectorate had reached clear conclusions on the Vinalines case. The firm's chairman and directors of its affiliates had shouldered the main responsibility for their badly judged investment decisions. He noted that the inspectorate's report did not mention the responsibility of the MPI or the Ministry of Finance. Vietnam tours
Travel to Vietnam
tour to vietnam
visit vietnam
du lich lao
du lich he gia re
hitech review
weight loss
cute girl
dac san hue
how to solve rubik
how to tie a tie
how to be pregnant
how to cv
what is fashion trends
Mã số bài viết ec4f99d3077c43df8467ed650cd32e4a
No comments:
Post a Comment