According to an AFP report, Vietnam has named a new chairman to take over Vietnam Shipbuilding Industry Group (Vinashin), after the last head was arrested for driving the company into massive debt. Prime Minister Nguyen Tan Dung reportedly appointed Nguyen Ngoc Su, formerly deputy head of state-owned oil and gas firm PetroVietnam, to head the shipbuilder.
He replaces Pham Thanh Binh, who was suspended in July and later arrested due to the group's debts,.
(Source: AFP)