Update news Vietnam Railways
For years, the railway industry has grappled with the challenge of sourcing significant funds to replace outdated locomotives and carriages to meet regulatory requirements and industry standards.
Six projects worth over 7.4 trillion VND (310.46 million USD) are expected to begin this year serving railway infrastructure upgrade.
The railway industry is striving to regain its past glory after decades of struggling to compete with low-cost airlines and flexible car transport.
Hanoi and Saigon railway companies, the two subsidiaries of the Vietnam Railway Corporation (VNR), reported their respective after-tax profits of almost VND35.2 billion and over VND38.3 billion in January-September.
The Vietnam Railways Corporation has asked the Ministry of Transport to allocate over $74.7 million for the reparation and upgrade of weak railway bridges in the 2022 – 2023 period.
Since ministries have not agreed on a capital allocation mechanism, companies have not been able to sign railway maintenance contracts.
Vietnam wants to raise up to US$10.5 billion for national railway development in the next 10 years.
Detailed policies on attracting investment in the railway industry are needed to meet the country’s ambitious VND240 trillion (US$10.5 billion) railway development plan in the next ten years, experts said.
The freight train from Vietnam to Europe is operating very well after putting into operation for more than four months, according to Tran The Hung, General Director of Rail Transport and Trade Joint Stock Company (Ratraco).
Most urban railway projects in Vietnam are behind schedule, resulting in an increased need for investment capital.
Vietnam Railway Authority (VRA) has submitted a plan to call for foreign investment in two railways to be connected to the Lach Huyen and Cai Mep – Thi Vai ports.
The Vietnam Railway Authority has proposed the Ministry of Transport call for foreign investments in six projects.
The Ministry of Transport has rejected a proposal of the Vietnam Railway Corporation (VNR) to import 37 train carriages manufactured from 1979 to 1982 from Japan, said Deputy Minister Nguyen Ngoc Dong.
Vietnam Railway Authority has issued a document asking for feedback from localities on the resumption of railway transportation while ensuring COVID-19 safety.
The Vietnam Railways Corporation (VNR) said that it is expected to organize passenger trains again from October 1.
Provinces have begun organizing trips to carry their citizens from HCMC back to their hometowns.