Shipbuilding Industry Corporation (SBIC) is a state-owned shipbuilding holding group in Vietnam, which offers a wide variety of new building choice from merchant vessel to platform supply vessel to other custom made-to-order ships.

[2] Vinashin was heavily indebted,[3] and executives have been arrested for mismanagement,[4] but it has been claimed that further restructuring would allow debts to be repaid within a year.

[citation needed] In August 2010, Damen Vinashin began construction on a new shipyard on a 42-hectare (100-acre) site in Haiphong.

[9] Merchant ship construction included dry cargo, tankers, lash carriers, and passenger vessels.

Only one subsidiary - which had an effective business and also an important joint venture with Damen - would be left surviving and to be renationalized.