The
government in Hanoi is now working out the bankruptcy process for the
state-owned entity whereby it will be able to continue to build ships. The bankruptcy process is expected to be
completed by the end of Q1.
SBIC was
formed in 2013 following a massive multi-billion dollar financial scandal at
its former guise, Vinashin.
Vietnam is the seventh largest
shipbuilding nation in the world with SBIC responsible for more than 80% of the
country’s ship output.