Tuesday, November 27, 2012

[Marine] Vietnam cuts NB budget



Vietnam has slashed its newbuilding budget amid global shipping slump.

The Ministry of Transport said the new investment figure has been cut from VND 100 trillion (about $4.8bn) to VND 68 trillion up to 2020.

Deputy minister Nguyen Hong Truong said Vietnam's shipping industry has taken a hit from the global crisis.

The country's state-owned shipping company Vinalines has agreed with the budget cut.



Published : November 26, 2012


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