The UK magazine Fairplay has honored Vietnam as the fifth largest shipbuilders in the world in 2007, said Nguyen Ngoc Anh, Business General Director of the Vietnam Shipbuilding Industry Group (Vinashin) on March 10.

According to Mr. Anh, Vinashin is striving to become an even bigger shipbuilder in the near future. At present, the corporation has signed a number of deals worth 12 billion USD.

Vinashin has 52 subsidiaries including 20 shipyards and 32 companies with about 15,000 employees in its skilled labor force.

It cooperated with 4 other join-venture companies to develop the biggest shipyard in Southeast Asia HYUNDAI-VINASHIN JV Shipyard with total investment capital of nearly US$ 160 million and a dry-dock serving all vessels up to 400,000 DWT capacity.

(Source: CPV/LD)