While both sides hailed the land demarcation agreement but no progress on a separate maritime dispute regarding the Spratly Islands has been made. It is also reported the Vietnamese government is uneasy about the growing gap between China's increasingly advanced navy and its own older Soviet and American origin warships (here)
In that light, the Vietnamese government's decision to push for a naval infrastructure expansion is predictable.
Vietnam To Get China Eximbank's Loans For Shipyard, Pwr Projs
HANOI -(Dow Jones)- Vietnam will get soft loans from China Eximbank to expand a shipyard and build a coal-fired power plant, the government said Wednesday.
The loans will be used to expand the Dung Quat Shipyard in central Vietnam and to build the Mao Khe power plant in the north, the government said in a statement.
The government said it has assigned the Ministry of Finance to instruct the Vietnam Shipbuilding Industry Group and the state-run Vietnam Coal-Mineral Industries Group to complete documents for obtaining the loans.
Details on the loans weren't provided.
-By Vu Trong Khanh, Dow Jones Newswires; 844 35123042; trong-khanh.vu@ dowjones.com
(END) Dow Jones Newswires
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Sino-Vietnam Joint-Government team in action.