Industry and Trade Ministry's projects increase lossesTen out of 12 loss-making projects under the management of the Ministry of Industry and Trade (MoIT) have continued falling in the negative numbers, the ministry’s report said. Ninh Binh fertilizer plant - one of 12 loss-making projects under the management of the Ministry of Industry and Trade. The Quy Xa iron ore mining and quarrying project, the Lao Cai iron and steel plant, and the DAP 1 Hai Phong fertilizer plant have all reported rising profits and falls in accumulated losses. Of this, their equity was VND14.4 trillion, accounting for 22.56 per cent, while loans made up 74.6 per cent, about VND47.5 trillion. Local bank loans for the projects amounted to VND41.8 trillion, including VND16.9 trillion from VDB.

Source: VietNamNet News May 09, 2018 01:30 UTC