Vietnam Railways Corporation (VNR) has recorded a record semi-annual revenue of VND 4.5 billion, an increase of over 10% compared to the same period in 2023. This is higher than the annual revenue for the 2019-2021 period, with VNR averaging more than VND 24.7 billion per day. The company aims to earn VND 6,258 billion by the end of the year and has completed nearly 72% of its plan.
Despite facing challenges such as landslides at the Bai Gio tunnel and Chi Thanh tunnel, which caused congestion on the Hanoi – Ho Chi Minh City railway line, resulting in additional costs for repairs and indirect damage of over VND 106 billion, VNR has put into operation specialized train pairs such as the “heritage connection” train on the Hue – Da Nang route, the “Da Lat night train journey,” and charter trains with customized itineraries and services.
VNR has also implemented solutions to increase international freight transport output, such as exploiting more Vietnam – China intermodal transport products. However, these efforts have not been without challenges, including issues with customs clearance and logistics infrastructure in neighboring countries.
The railway industry in Vietnam is made up of 25 subsidiaries, 17 affiliated units, and eight joint ventures and associates. In recent years, there have been discussions about merging some of these companies to improve efficiency and streamline operations. The two largest members of the VNR ecosystem are Hanoi Railway (HRT) and Saigon Railway (SRT), both of which are currently implementing procedures for a merger after being approved by shareholders’ meetings.
