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Belief of Minister Truong Quang Nghia in Vinalines’s successful implementation of capitalization in 2017

At noon of February 10th, Minister of Transport Truong Quang Nghia chaired meeting with Vietnam National Shipping Lines (Vinalines) with participations of Vice-Minister Nguyen Hong Truong, Nguyen Van Cong and heads of departments under Ministry of Transport, Vietnam Maritime Administration. 

From side of Vinalines, there were participations of Chairman of Board of Management Le Anh Son, Acting General Director Nguyen Canh Tinh, Chairman of Trade Union of Corporation Le Phan Linh, specialized members of Member Council, Deputy Directors, members of Standing Party’s Committee, heads and deputy heads of departments, as well as heads of member companies under directly Corporation. 


Minister Truong Quang Nghia in the meeting

On his report to Minister on performance results at stage of 2013-2016, Chairman of Member Council of Vinalines Le Anh Son indicated that: in the most recent years, Vinalines has focused on re-organizing production and business activities, enhancing performance of marine terminals block, marine service; changing orientation for business and exploitation; concentrating on developing activities of container; enhancing capacity of marine transport, logistics and marine terminals in Southern areas, Mekong Delta and Northern area, etc. Especially, Vinalines reduced number of member companies from 73 to 35, carried out capitalization with 12/12 companies, consolidated staff machine in Parents Company with a simple and specialized orientation.


Chairman of Member Council Le Anh Son is making report on performance situation of Vinalines to Minister

Thanks to concentration on developing market, enhancing quality of production and business, thoroughly dealing with bad debts and ineffective assets, reducing loss through methods of saving expenses, activities of Vinalines exited situation of negative value of owner’s equity after a long term of loss. Business activities were balanced and profitable. The outstanding point in this stage is break-through of company block of maritime terminals and logistics, which supported in reducing and off-setting loss for activities of maritime transport. 

In 2016, activities of maritime terminals obtained many prosper points with increased criteria about output and earnings compared to that of 2015. Especially, earnings before tax increased with 58% with VND 923 billion.
In 2017, Vinalines sets a target of transporting 12.5 million ton, passed cargo output of 78.2 million ton (including 3.5 million TEU of container cargo), gross revenue of VND 12,000 billion and balanced earnings. Besides, the corporation will successful carry out capitalization for parent company, speed up comprehensive re-organization, enhance administration capacity and quality of human resource. 


Vice –Minister Nguyen Van Cong is making speech in the meeting

After listening to opinions of heads of Vinalines, functional departments, opinions of Vice-Minister Nguyen Van Cong and Nguyen Hong Truong, on his speech at the meeting, Minister Truong Quang Nghia commended efforts of Vinalines in order to obtain many impressive results in production and business activities, re-organization and capitalization.

 
Vice-Minister Nguyen Hong Truong is making speech in the meeting

Besides, Minister also drew many problems to be solved for sustainability and development of Vinalines with focus on maintaining and developing vessel group, marine terminals and logistics, etc
In terms of vessel group of Vinalines, Minister required Vinalines to draw a detailed and long-term plan of developing vessel group. 

However, should research about methods of investment and development of vessel group such as hiring or procuring, other than method of purchasing and building as previously. Minister reminded “Maritime transport is one of pillar for development of maritime economic, thus, structure must be appropriate, and vessel group has to be professional”

In terms of maritime terminals, Minister indicated that maritime terminals are resources, important places for security, national defense and economic development, so we had to very prudent. 
In terms of logistics, Minister also affirmed that departments of Ministry would strongly assist for Vinalines in investment and development of logistics in the incoming time. 


Minister is requiring Vinalines to focus on maintaining and developing vessel group, maritime terminals and logistics

In terms of capitalization, Minister believed that Vinalines would successfully carry out this mission in this year. However, Minister also reminded to change management thinking and approach after capitalization. Minister affirmed that “There were many companies successfully carried out capitalization before, however, their production and business activities were still weak because of remaining old thinking, and complicated methods”
At the end of the meeting, Minister Truong Quang Nghia hoped that cadres and employees of Vinalines would continue union in order to develop stronger; and also emphasized that Transparency and Democracy are the two leading and critical factors for building a strong community.
In response of guideline opinions of Minister Truong Quang Nghia, Chairman of Member Council Le Anh Son, on behalf of entire cadres and employees of Vinalines, affirmed effort and union of the corporation in implementation with guideline of Ministry of Transport for purpose of fulfilling duties and plans in 2017.

By: Vinalines.com.vn
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