Many maritime shipping firms in Vietnam have complained that they are suffering from losses and difficulties in the context of economic downturn.
Many maritime shipping firms in Vietnam have complained that they are suffering from losses
For the first time, on August 5 the Ministry of Transport held an online forum with maritime shipping companies nationwide with the participation of Minister Dinh La Thang.
The forum attracted the participation of many maritime shipping companies and was a chance for them to inform the ministry of their positions and propose solutions. Do Xuan Quynh, general secretary of Vietnam Ship Owners’ Association, said that most ship owners in Vietnam are suffering from losses.
“The greatest difficulty facing ship owners is a lack of capital to maintain operations, so many have been forced to take out loans at high interest. They are short of money to buy equipment and fuel and even to pay their workers. Many of them will be unable to avoid bankruptcy if the current situation continues,” Quynh noted.
Quynh also proposed that the government and Ministry of Transport should have a policy to provide low-interest rate loans to ship owners in order to help them overcome temporary difficulties.
He also recommended that licensing of foreign ships for operations in Vietnam be stopped. Regarding this, Deputy Minister of Transport Nguyen Van Cong said inland water transport is only open to local companies. He added that the only cases in which foreign companies are allowed to run is when Vietnamese companies fail to meet operational standards.
The Ministry of Transport has also recently tightened the licensing for foreign shipping firms.
According to Deputy Minister Cong, to date only two foreign maritime shipping companies are allowed to operate in Vietnam compared to nearly 30 in 2012.
At the meeting, Minister Dinh La Thang said that the ministry will continue reviewing seaport planning and priority will be placed on the development of seaport infrastructure.
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