Edmund Malesky on Vietnam's Vinashin Case
Trial of Vietnamese executives reveals government's fight against corruption
04/03/2012
Thanh Nien News,
Baird Maritime
As the government rolled its 200-odd shipping companies into one behemoth entity known as Vinashin in 2005, Pham Thanh Binh was at the helm, steering the giant conglomerate toward the goal of becoming the world's fourth largest shipbuilder by 2015. But three years before the Vinashin ship would have docked at its scheduled destination, its chairman ended up in another dock.
Binh and other eight executives stand accused of deliberately breaching state regulations on economic management. They have been indicted for causing losses of at least VND910 billion (US$43.96M) with many "critical violations," the indictment said.
They had mostly squandered the state budget on the purchase of an Italian-made high-speed passenger boat and the construction of two thermo-power plants, it added.
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Edmund Malesky can comment on political development in Vietnam and China, as well as comparative political economy in Southeast Asia. He also can provide insight into the choices underlying the decisions of foreign investors and thereby the globalization debate, especially in regard to the discussion of "sweatshops" in developing countries.
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