Restructuring Vinashin and Vinalines faces difficulties

At the conference on restructuring and equitization of enterprises organized by the Ministry of Transport on the morning of March 27, leaders of Vinashin and Vinalines both said that restructuring is very difficult.

Mr. Vu Anh Tuan, General Director of Vinashin, said that according to the Government's Decision, Vinashin must restructure 216 subsidiaries, 19 units have agreed with the Debt Trading Company (DATC) to equitize and buy debt, but up to this point, none of them have been able to do so. Of the 43 enterprises retained, the plan is to equitize 13 parent companies and 12 subsidiaries of the group, but up to this point, none of them have been implemented. Mr. Tuan also admitted his fault to the Ministry's leaders for the organization, management and implementation of the group's leaders in the restructuring that has not yielded results.

According to Mr. Le Anh Son, Deputy General Director of Vinalines, the restructuring project is being implemented, but it is also difficult due to difficulties in maritime transport. Vinalines' ability to repay debts is currently almost non-existent, and the company has also reported to the Government and the Ministry that it is short of about 5,000 - 6,000 billion VND that it cannot pay. If this amount cannot be handled, the restructuring project cannot be implemented.

Minister of Transport Dinh La Thang requested Vinalines to speed up the sale of old ships, and to complete the disposal of old and damaged ships before June 30, following the direction of Deputy Prime Minister Hoang Trung Hai.

According to Thanhnienonline-HV