PM suspends Vinashin chief

Prime Minister Nguyen Tan Dung issued an order Tuesday suspending Pham Thanh Binh, the chairman of state-run shipbuilding conglomerate Vinashin.

Mr. Binh has been suspended so that a review can be undertaken of his performance and to allow a police investigation into alleged wrongdoing to be carried out, the government said in a statement.

PM Dung assigned Nguyen Hong Truong, Vice Minister of Transport, to concurrently take on Binh\'s position as Vinashin\'s Chairman of the Management Board.

Earlier on, the Party Central Committee\'s Commission for Inspection has decided to refer the investigation of wrongdoings committed by Pham Thanh Binh to an investigation agency to consider criminal proceedings.

Vinashin is worth an over VND 90 trillion but is in about VND 80 trillion of debt.