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Thursday, July 25, 2024

Vietnam Railway restructuring plan approved

By Nguyen Tan

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HCMC – The Government has approved a plan to restructure the state-owned Vietnam Railway Corporation (VNR) through 2025.

Deputy Prime Minister Le Minh Khai signed Decision No. 562/QD-TTg, endorsing the plan, which maintains VNR as a single-member limited liability company wholly owned by the state.

The restructuring plan includes establishing a new Railway Research, Application, and Development Center under VNR, focusing on innovation and advancements in railway technology and operations.

VNR will continue its business activities as defined by regulations. The parent company model, with the state holding 100% of the charter capital, will remain in place until 2025.

The current organizational structure, including the Railway Traffic Operation Center and various railway and locomotive branches, will be retained.

For the Hanoi Railway Transport JSC and the Saigon Railway Transport JSC, restructuring will follow Directive No. 303/TTg-DMDN issued by the prime minister in 2022.

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