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High Speed Passenger Ship Route to Start in 2008

A coastal high-speed passenger ship route from the North to the South opened by the Viet Nam Shipbuilding Industry Corporation (Vinashin) is expected to come into operation in 2008, said Mr. Pham Thanh Binh, chairman of the board of directors of Vinashine.

Each ship, carrying 2,000 passengers and 1,000 cars, will travel from Quang Ninh Province to Hue and Soai Rap-Ho Chi Minh City in 30 hours. The ship costs less than the train fare.

Beside, Vinashin will issue bonds worth VND1, 000 billion this year. Nine subsidiary companies under the corporation will also list their shares on the Vietnamese stock market. Vinashin expects to list its shares on international stock markets in 2010, Mr. Binh added.

Source NLD – Translated by Kim Khanh

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