Vinalines to slash stakes in two major ports hinh anh 1Containers are loaded at Saigon Port in Ho Chi Minh City (Photo: VNA)

The Prime Minister has given the green light to the Vietnam National Shipping Lines, or Vinalines, to withdraw its capital from the Hai Phong and Saigon seaports.

As such, Vinalines’ stakes in Saigon Port Company Limited and Hai Phong Port Company Limited will be slashed to 20 percent.

Previously, the Prime Minister agreed to let Vinalines hold 50-65 percent of the Sai Gon Port's charter capital and 65-75 percent of the Hai Phong Port's, but this has made the two less attractive to investors hence the further reductions.

Currently, Saigon Port accounts for 10.5 percent of the overall throughput in the south while Hai Phong Port occupies 28.7 percent of northern figure.-VNA