Intellasia quoted Mr Nguyen Quoc Anh deputy general director & chief business officer of Vietnam Shipbuilding Industry Group as saying that it expects revenues to rise by 34% in 2009 as it builds more vessels to meet rising demand,.

He said that net sales at Vinashin would rise to VND 43.5 trillion from VND 32.5 trillion in 2008. He added that the country's marine transportation demand is increasing and will be very large by 2015.

Vinashin plans to build and export ships worth USD 1 billion in 2009 from about USD 700 million in 2008. It also plans to issue USD 400 million worth bonds in 2009.

Meanwhile, at a meeting with Vinashin executives, Mr Nguyen Tan Dung Prime Minister of Vietnam said that the group should not spread itself too thin but concentrate on it core business. He warned that despite its achievements, Vinashin's financial situation is not sustainable.

(Sourced from www.intellasia.net)