Vinpearl JSC, a subsidiary of Vingroup has been allowed to buy 85 billion VND (4.04 million USD) worth of shares in Nha Trang Port JSC from the Vietnam National Shipping Lines (Vinalines).

The company is working with the Nha Trang Port to develop an investment plan in the direction of turning the port into a special facility serving tourism.

Nha Trang Port is undergoing the equitisation process but its shares have failed to attract buyers due to its ineffective operations over the past time.

The port’s value is assessed at 245 billion VND (11.6 million USD). More than 2.3 percent of the company’s chartered capital was offered to its employees and Trade Union organisation, and 22.6 percent of chartered capital was put up for auction.-VNA