Ukraine Co-Owns One Of Asia’s Major Ports

02 March 2017 17:17

Ukraine owns 37% of the Lotus Port, which is located near Ho Chi Minh City in Vietnam. The port is one of the assets of the Black Sea Shipping Line, and Ukraine intends to demand the dividends payable to it by law.

Ukraine’s Minister of Infrastructure Volodymyr Omelian announced this on his Facebook page. "Only a few initiated people know that Ukraine has one more port. Our country is the owner of 37% of the Lotus Port near Ho Chi Minh City in Vietnam," he wrote.

According to Omelian, the port ranks among the largest in Vietnam.

"A delegation from the Ukrainian Ministry of Infrastructure headed by the Black Sea Shipping Line’s arbitration manager Yevhen Lakhnenko traveled to Vietnam on 27 February to audit the Ukrainian-Vietnamese enterprise Lotus, which has not paid dividends to Ukraine since 2011 because of the illegal activities of the Black Sea Shipping Line’s representative in Vietnam.

“The delegation also includes representatives of the Security Service of Ukraine, who delivered summons for the aforementioned person to appear for questioning at the National Anti-Corruption Bureau of Ukraine. The main task of our delegation is full audit of the Ukrainian-Vietnamese joint enterprise Lotus and payment of dividends to the Ukrainian side because the damage resulting from the shortfall in profits is already estimated at hundreds of thousands of US dollars. This issue is now under the personal control of my deputy Yurii Lavreniuk," Omelian wrote.