Vietnamese government to part-privatise Vinashin

The Vietnamese government is to part-privatise 27 state-owned companies by 2020, including troubled shipbuilder Vinashin, Seatrade Asia Online reports. ??Pham Viet Muon, vice chairman of the government office, told reporters that the sell-offs will begin in 2015. ??But the state will retain stakes of more than 65% in the companies after the public share sales. ??Vinashin ran up huge debts of more than $4bn by diversifying into non-core businesses. Now it is focusing on its core shipbuilding business.