Vietnam Railways to upgrade trains

Vietnam Railways (VNR) plans to upgrade the country’s rail infrastructure by building 300 new and high-quality train carriages and purchasing more locomotives by 2023.

Vietnam Railways to upgrade trains

The move aims to provide improved services, according to VNR, as its outdated locomotives and carriages result in higher fuel consumption and maintenance costs.

In accordance with the 2017 Railway Law, the lifespan of locomotives and carriages should not stretch beyond 40 years for passenger trains and 45 years for goods trains.

But about a half of its locomotives and one-third of the carriages have been in use for 30-40 years, so it is now necessary to purchase replacements.

VNR worked with a foreign partner on investment solutions for its plans. The partner will build the trains and offer them to the VNR on a lease-purchase agreement.

When the agreement is completed, the trains will be the property of VNR; a method that helps reduce intermediate cost and other expenses.

 

The cost of building carriages will be cut by 10 per cent and investors have the responsibility for conducting maintenance. VNR expects to see 50 new trains go into operation over the next three to five years.

It will also work with its partner to form a joint venture with the Gia Lam Train Company or the Di An Train Company, to lower the cost of building trains while ensuring domestic workers, machinery, and materials are utilized.

VNR will also continue upgrading old carriages that are still in working order. VN Economic Times

Le Diem

First trains for Nhon-Hanoi elevated railway project to arrive in Vietnam next year

First trains for Nhon-Hanoi elevated railway project to arrive in Vietnam next year

The first set of trains for the Nhon-Hanoi elevated railway project manufactured by a French company will arrive in Vietnam next June, according to the capital city’s urban railway management board.

China contributes US$1.4 million for planning of express railway project in Vietnam

China contributes US$1.4 million for planning of express railway project in Vietnam

The Chinese Government has provided nonrefundable aid of 10 million Chinese yuan (US$1.4 million) for a feasibility study for the Lao Cai-Hanoi-Haiphong express railway project, according to the Ministry of Transport.  

 
 

Other News

.
Ministries tighten land management to prevent 'land fever'
Ministries tighten land management to prevent 'land fever'
BUSINESSicon  04/04/2021 

The Ministry of Construction (MoC) and the Ministry of Natural Resources and Environment (MONRE) have requested provinces and cities review State management on land prices amid 'land fever' in some localities.

New trading system in place this year: HoSE
New trading system in place this year: HoSE
BUSINESSicon  04/04/2021 

The new information technology system for the entire stock market, known as KRX, is expected to be put into operation this year, according to the Ho Chi Minh Stock Exchange (HoSE).

Vietnam raises US$1.7 billion via government bonds in Q1
Vietnam raises US$1.7 billion via government bonds in Q1
BUSINESSicon  04/04/2021 

As of March, the total value of G-bonds reached more than VND1,340 trillion ($58.3 billion), slightly down 0.7% against late 2020.

Stock market size on HOSE reaches nearly 71 percent of GDP
Stock market size on HOSE reaches nearly 71 percent of GDP
BUSINESSicon  04/04/2021 

Vietnam’s stock market capitalisation on Ho Chi Minh Stock Exchange (HOSE) as of March 31 skyrocketed 93.56 percent year-on-year to more than 4.46 quadrillion VND (193.72 billion USD), HOSE said.

Retail industry strives to exploit US$200-billion market
Retail industry strives to exploit US$200-billion market
BUSINESSicon  03/04/2021 

The Vietnamese market had a spectacular leap in scale last year, becoming one of the 16 most successful emerging economies in the world. In which, the retail sector was extremely attractive and full of potentials, with lots of room for development.

Markets blacklisted for selling counterfeit goods
Markets blacklisted for selling counterfeit goods
BUSINESSicon  03/04/2021 

The US Trade Representative (USTR) office has blacklisted Vietnam's well-known markets in its 2020 review, for reasons of counterfeiting goods. Dong Xuan Market in Hanoi and Ben Thanh Market in HCMC have been named on the USTR blacklist. 

Steadying the economic ship
Steadying the economic ship
BUSINESSicon  04/04/2021 

Despite numerous challenges making dents in all trade and investment activities, Vietnam’s economic growth quality has seen significant improvements over the past five years in general,

Car dealers begin clearance sales, reduce prices by up to VND100 million
Car dealers begin clearance sales, reduce prices by up to VND100 million
BUSINESSicon  03/04/2021 

Car sale agents have launched promotion programs in an effort to clear stock, but the price reductions are lower than those in the same period last year.

Mekong Delta: spoiled pigs eating sweets, and other unusual phenomena
Mekong Delta: spoiled pigs eating sweets, and other unusual phenomena
BUSINESSicon  03/04/2021 

Nguyen Hong Trang’s family in Vinh My A commune in Bac Lieu province raises pigs. More than a year ago, her sow gave birth to 11 baby pigs, one of which weighed only two kilos. As it could not suckle much, it stayed small.

Bank shares in demand as banks report huge profits
Bank shares in demand as banks report huge profits
BUSINESSicon  03/04/2021 

The capitalization value of some banks has increased by one billion dollars within a short time.

Local authorities struggle to stop real estate bubble
Local authorities struggle to stop real estate bubble
FEATUREicon  03/04/2021 

The real estate market remains feverish not because of high demand and short supply, but because of speculation, experts have said.

E-commerce supply chain, not rescue campaigns, will help farmers
E-commerce supply chain, not rescue campaigns, will help farmers
BUSINESSicon  04/04/2021 

Hanoi plans to develop an app to sell farm produce and organize an e-commerce supply chain in an effort to build a close link among producers, logistics and e-commerce service providers.

Will Vietnam compete with Thailand, Indonesia to manufacture electric cars?
Will Vietnam compete with Thailand, Indonesia to manufacture electric cars?
FEATUREicon  04/04/2021 

In Southeast Asia, Thailand and Indonesia are running a race to become electric car manufacturing centers of the region and the world. Will Vietnam join the race?

Demand for industrial land rising: Savills Vietnam
Demand for industrial land rising: Savills Vietnam
BUSINESSicon  02/04/2021 

The sudden increase in demand for land, factories, and warehouses in Vietnam has pushed up rental costs at industrial parks (IPs) near major cities, according to Savills Vietnam.

Finance ministry studies legal framework for cryptocurrencies
Finance ministry studies legal framework for cryptocurrencies
BUSINESSicon  02/04/2021 

The Ministry of Finance is studying the legal framework for managing cryptocurrencies on stock exchanges which would pave the way for legal cryptocurrency transactions in Vietnam.

Vietnam’s airlines preparing to fly non-stop to US, resume international flights
Vietnam’s airlines preparing to fly non-stop to US, resume international flights
BUSINESSicon  02/04/2021 

Despite the Covid-19 crisis, Bamboo Airways and Vietnam Airlines have announced plans to fly non-stop to the US by the end of this year.

Plenty of room remains for growth of consumer credit market: Insiders
Plenty of room remains for growth of consumer credit market: Insiders
BUSINESSicon  01/04/2021 

Though Vietnam’s outstanding consumer credit almost tripled over the last decade, its share of total outstanding loans is yet to keep pace with that of its regional nations. 

Owner of US$7 billion system, billionaire Nguyen Dang Quang takes new step
Owner of US$7 billion system, billionaire Nguyen Dang Quang takes new step
BUSINESSicon  01/04/2021 

After Masan Group's acquisition of Vingroup’s retail chain, Masan’s Nguyen Dang Quang took great steps to master the $7 billion system and form an ecosystem for Vietnamese people.

Banks required to issue chip cards for security
Banks required to issue chip cards for security
BUSINESSicon  01/04/2021 

Vietnamese commercial banks are required to issue chip ATM cards to improve customers’ transaction security from March 31, according to the State Bank of Vietnam’s Circular No. 22/2020/TT-NHNN.

VIETNAM BUSINESS NEWS APRIL 3
VIETNAM BUSINESS NEWS APRIL 3
BUSINESSicon  03/04/2021 

Fitch Ratings upgrades Vietnam’s outlook to “positive”

 
 
 
Leave your comment on an article

OR QUICK LOGIN