IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 10 Oct 2013 | Removal date: open ended
Still in force

Bailout (capital injection or equity participation)

On 10 December 2013, the Vietnamese Finance Ministry-run Debt and Asset Trading Corporation (DATC) agreed to offer government guaranteed bonds of USD 626 million at the Singapore Stock Exchange to help the Vinashin Shipbuilding Industry Group repay its foreign creditors. The bond will be issued for a 12 year term as part of the restructuring agreement, will replace the earlier loan agreement.
 
Vinashin, a state-owned shipbuilder, was developed largely out of foreign investments, and on account of alleged financial malpractices was more than USD 4.5 billion in debt by the end of 2010. 
 
The above credit agreement was finalized on 10 October 2013.
 
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries. 
 

AFFECTED COUNTRIES

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