CBS Atlanta - By CHRIS BRUMMITT, Associated Press
Posted: Sep 05, 2012 3:13 AM EDT
Updated: Sep 05, 2012 6:24 AM EDT
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| The unused floating dock of Vinalines in Ba Ria-Vung Tau province. Photo: VietnamNet.vn |
HANOI, Vietnam (AP) - Police have arrested the former chairman of an indebted Vietnamese state-owned shipping company for alleged economic crimes after he was extradited from a neighboring country, the government and state-run media said Wednesday.
Vietnam's Communist leaders have vowed to reform the inefficient and corrupt state-owned sector, which economists say is a major impediment to continued growth and economic stability in the country of 87 million people. But doubts persist over whether the Communist party has the will or ability to trim the conglomerates - which by some accounts make up more than 30 percent of the country' gross domestic product - given their close ties to party officials.
More: cbsatlanta.com.
