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Vietnam’s state-owned shipbuilding company, SBIC, is facing imminent bankruptcy, prompting government intervention aimed at restructuring the corporation, MaritimeFairTrade.org reported. This decision follows a resolution approved by the Politburo, which has sanctioned the bankruptcy of SBIC and its seven subsidiaries. Leading this initiative is Deputy Minister of Transport Nguyen Xuan Sang, who has asserted that the bankruptcy has become unavoidable after failed restructuring attempts.