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The Saigon Times

Saigon Times Group is a leading Vietnamese media organization with prestigious business and consumer publications. After three decades of development, we have built a good reputation through our publications on economy, business and markets for Vietnamese and foreign readers.

Basic

Free

  • Free access to daily domestic news, podcasts and videos

Premium

$5 $1 /month
(VND 23,900)
Monthly Annual

  • Unlimited access to domestic news, podcasts, videos and magazine articles on current social / economic / trade / investment issues, commodity / financial/securities markets, M&A activity, FDI, local and foreign business communities and more.

AUTOMATIC RENEWAL REMINDER

  • Your payment method will then be automatically charged ₫ 899.000 every 365 days thereafter.
  • Your subscription will continue until you cancel.
  • You can cancel by using My account. Under My account, select "Unsubscribe" and then follow the instructions to cancel.
  • You can notify us of your intent to cancel at any time during your billing period. Cancellations take effect at the end of your current billing period.
28.9 C
Ho Chi Minh City
Thursday, April 3, 2025

Vietnam Railways Corporation to be restructured

By N. Tan

Must read

HCMC – The Vietnam Railways Corporation (VNR) and its affiliated companies will focus on core business operations and have solutions to handle less effective projects in the coming time, reported the local media.

The Commission for the Management of State Capital at Enterprises (CMSC) has written to ministries and departments seeking their feedback on VNR’s restructuring plan for 2021-2025 before this commission submits the plan to the prime minister for approval.

The objectives of the VNR restructuring plan for 2021-2025 comprise changing the structure and scale of organization, enhancing the effectiveness of corporate management, effectively using corporate resources and improving productivity.

The VNR will focus on investing in main business lines and finding solutions to resolve loss-making projects.

With this objective, the VNR proposed not equitizing any company in the period. However, the corporation will restructure joint stock and affiliated companies to which the VNR is a member.

Under the proposed plan, the VNR will continue as a wholly State-owned, one-member limited company.

The State will hold from 65% of the charter capital of five joint stock companies and above 50% to under 65% of the charter capital of 20 joint stock companies.

There are 16 joint stock companies in which the State possesses less than 50% of charter capital.

The main business operations of the VNR include management, exploitation of the national railway infrastructure and control of national railway traffic.

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