Vinashin Eyes Investments

The Viet Nam Shipbuilding Industry Corporation (Vinashin) will need $2.5b to carry out projects under the strategy on ship exports until 2010. To meet the target of $1b evenue from ship exports in five years, Vinashin plans to invest in building and upgrading infrastructure of 10 large shipyards to make them capable to build 3,000-10,000 ton ships. It also plans to build seven shipyards, six shipbuilding industrial parks and seven shipbuilding industrial complexes in all of Vietnam. Vinashin will increase its investment and business capital through the Shipbuilding Industrial Financial Company. It will set up a financial leasing company, a securities company, an insurance company, and a shipbuilding industrial investment fund to attract domestic and foreign capital sources. The corporation will also invest in other fields like real estate, oil and gas, telecoms, tourism and insurance. (Source: Vietnam Economic Times)