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Vietnam Government News

08 Aug 2018

Vinalines Mulls USD 210mln IPO

Vietnam’s government is targeting to raise VND4.89 trillion ($210 million) from an initial public offering (IPO) of Vietnam National Shipping Lines (Vinalines) scheduled on September 5, 2018.According to an official release on Hanoi Stock Exchange (HNX), Vinalines will auction 488.82 million shares, or a 34.8 per cent stake at the price of VND10,000 ($0.4) apiece at the HNX. Its charter capital is estimated at approximately VND14 trillion ($616.7 million).The IPO is part of Vietnam’s broader privatisation programme to increase the efficiency and performance of state-owned firms, and to fill government coffers as public debt nears the mandated ceiling of 65 percent of its gross domestic product (GDP)…

05 Jun 2018

Vietnam to Resume Importing Wheat from Ukraine

© Matyas Rehak / Adobe Stock

Vietnam's government has approved a decision to resume imports of Ukrainian wheat after about a two-year pause, Ukrainian grain traders union UZA said on Tuesday.Vietnam suspended purchases of Ukrainian wheat in 2015 after it found weevils in grain parcels delivered with fake phytosanitary certificates."The decision has been made to resume imports of Ukrainian wheat and to carry out strict phytosanitary control during the importation of grain from Ukraine," UZA said in a statement.Ukraine is among the world's leading wheat producers and exporters and has exported about 16 million tonnes so far

10 Apr 2017

China Asserts Its Power at Strategic Shoal

Far out in the South China Sea, where dark blue meets bright turquoise, a miles-long row of fishing boats anchor near Scarborough Shoal, backed by a small armada of coastguard projecting China's power in Asia's most disputed waters. China still calls the shots at the prime fishing spot and has boosted its fleet there, nine months after an international panel ruled its blockade of the lagoon was illegal. Beijing rejected that ruling by the Permanent Court of Arbitration, which invalidated China's claim of sovereignty over most of the South China Sea. But the presence of Philippine boats dotted between Chinese vessels shows a degree of compliance with the ruling.

05 May 2016

Vietnam Asks Japan for Vessels to Strengthen Coastguard

Vietnam has asked Japan to provide vessels to strengthen its coastguard, a Japanese official said on Thursday, in the latest sign of growing ties among the states locked in maritime rows with China. The request emerged during talks between visiting Japanese Foreign Minister Fumio Kishida and Vietnam's Prime Minister Nguyen Xuan Phuc and Foreign Minister Pham Binh Minh, a Japanese spokesman said. "Vietnam wants new vessels," Masato Otaka told reporters, adding that timing, methods of delivery, costs and quantity of vessels had not yet been decided. Vietnam has been modernising its military, and recently bought six advanced Kilo-class submarines from Russia. Russia and India are the main source of advanced weapons, training and intelligence cooperation.

19 Jul 2015

Vietnam to Go-ahead with $2.5 bln Port Project

Vietnam's government has agreed on a port project in the southern province of Ca Mau, costing some $2.5 billion according to media reports and which would be able to host some of the world's biggest ships. The Hon Khoai port would be built under a public-private partnership, the government said in a statement on Saturday, while local media, citing a provincial proposal, said 85 percent of the funding would be via loans from the Export-Import Bank of the United States. The remaining 15 percent of the cost will come from the private sector. State-run news website VnEconomy said the provincial authority had proposed local, unlisted Cong Ly Construction-Trading-Tourism Co as investor for the project.

08 Apr 2015

China, Vietnam Pledge Peaceful Resolution of S.China Sea Spat

China and Vietnam have pledged to look for a peaceful resolution to their dispute in the South China Sea via talks, following a meeting between China's president and the head of Vietnam's Communist Party, state news agency Xinhua said on Wednesday. A joint communique carried by Xinhua said that both countries had a "candid" exchange of views on their maritime spat. But the two countries agreed to "use well the Sino-Vietnam government border negotiation mechanism, uphold friendly consultations and negotiations to look for a basic and lasting resolution both countries can accept", the statement said. China and Vietnam should also "proactively look for transitional resolution methods which do not affect either side's position, including looking at and discussing joint development".

11 Jun 2014

Vietnam says China Moving Rig; China Denies Sending Warships

Vietnam said on Wednesday a Chinese oil rig at the center of an increasingly bitter territorial dispute appeared to be on the move again, as China denied Vietnamese accusations that it had sent warships to the scene. The rig's deployment triggered anti-Chinese riots in Vietnam last month that killed at least four workers. Scores of Vietnamese and Chinese ships, including coastguard vessels, have squared off around the rig despite a series of collisions after the platform was towed to the area in early May. In a statement, Vietnam's Directorate of Fisheries said the rig had shown signs of moving towards the east and southeast. China had 119 vessels in the rig's operating area, it added, including six naval ships and four circling military aircraft.

30 Sep 2013

Vietnam to Prosecute Following Fatal Ship Collision

'Sima Sapphire': Photo credit SGGP

The crew of Singaporean cargo ship 'Sima Sapphire' which collided a Vietnamese fishing vessel leaving 3 dead and 5 missing will be prosecuted since data from the ship's black box incriminates its crew, according to the Vietnam Government. The Sima Sapphire was on voyage to Malaysia from Ho Chi Minh City when it collided with a Vietnamese fishing vessel from the Mekong Delta province of Tien Giang, which was returning to shore with 16 persons onboard. The collision threw all 16 fishermen to the sea, of whom 8 were rescued by the Singaporean ship.

04 Jun 2007

Shipbuilder Plans $94m Facelift for Central Port

The Vietnam National Shipbuilding Corp. will reportedly turn Cua Viet into a 300-400 ha port complex with a shipyard, ecotourism facilities, a golf course, and a wharf to accommodate 100,000-ton ships, according to a report on www.thanhniennews.com. The province has reportedly spent $1.74m on the port since 1993 but it has been plagued by amassing sand deposits. The people’s committee then decided to hand over the port to Vinashin hoping it would be able to develop Cua Viet and ultimately generate economic growth for the province. Established in 1996 Vinashin and its 20 subsidiaries have targeted turning Vietnam into the world’s 11th largest shipbuilder, four spots up the table, in the near future. They aim to earn revenues of $1 billion this year.

05 Feb 2007

Shipbuilder to Invest $40m in Central Facilities

Vinashin will invest $40m into building ten facilities to support the Dung Quat Shipbuilding Industrial Plant in central Vietnam. Construction of the factories is scheduled to begin this quarter in the Dung Quat Economic Zone of Quang Ngai Province. Under the plan, the new facilities will focus on manufacturing engines, pumping equipment, boilers and lifting equipment. Each plant will cost between $3.7m and $4.3m Vinashin has also recently opened a new subsidiary, Vinashin Offshore Industries in Hanoi. The new entity will focus on manufacturing floating storage and off-loading (FSO) units, moorings, oil drilling vessels and other industrial equipment.

31 Oct 2006

Vietnam Shipyard Builds Tanker for PetroVietnam

An affiliate of Vietnam shipbuilding giant Vinashin started work on the first of three 105,000 oil tankers under a contract last July with the state-run oil giant PetroVietnam. The $56m freighter to be 245m-long, 43m-wide and 20m-height will be built by Dung Quat Shipbuilding Industry Company and have state-of-the-art equipment satisfying latest international maritime conventions. The first will be handed over by the March of 2008, and the second and third by 2009 before the Dung Quat Oil Refinery goes on stream in 2009 – the first of its kind in the country which is now under construction in the central Quang Ngai Province. The company inked a $400…

06 Jul 2006

Vinashin to Build Three Tankers

The Vietnam Oil and Gas Corporation (PetroVietnam) on July 4 awarded a contract to the Vietnam Shipbuilding Industry Corporation (Vinashin), for the construction of three 105,000-ton oil tankers. The oil tankers, to be built at the Dung Quat Shipyard, are to be equipped with state-of-the-art facilities satisfying latest international maritime conventions. According to Vinashin, oil tankers of this kind are normally priced and sold for $60-65m each in the world market. The first tanker is scheduled be handed over by the end of 2008; and the second and third by 2009. The Dung Quat Oil Refinery will start operations in 2009. Under a Vietnam government strategy…