Hanoi (VNA) - The Vietnam Railways Corporation (VNR) achieved significant success in 2024, focusing on key areas of development.
One of the most significant milestones was the approval of the high-speed North-South railway project, a transformative initiative for the sector, underscoring the essential role of rail transport in Vietnam’s economic growth.
Impressive performance in 2024
At the VNR 2025 business plan conference on January 6, General Director Hoang Gia Khanh highlighted the company's strong performance in 2024.
Passenger numbers rose to 7.02 million, marking a 14.8% increase from the previous year. Freight volume also saw an impressive 11.2% rise, reaching 5.16 million tons.
In addition to strengthening long-standing partnerships, VNR expanded its cooperation with both domestic and international stakeholders, driving the development and modernization of the railway sector. The company introduced several high-quality services, including the "Central Heritage Connection" and chartered trains, which attracted more passengers to the network.
A pivotal moment came on November 30, 2024, when the National Assembly approved the investment plan for the high-speed North-South railway project. Khanh emphasized that this decision represents a historic turning point for the sector, cementing the vital role of rail transport in the country’s economic development.
VNR also made progress with the merger of two major railway transport companies—Hanoi Railway Transport JSC and Saigon Railway Transport JSC. This consolidation aims to pool resources, boost competitiveness, and improve operational efficiency, paving the way for the company's long-term success.
Looking ahead to 2025, VNR set ambitious goals, including a revenue target of over 9,400 billion VND. The company also aims for a 99% on-time performance rate for passenger trains, a reduction in railway accidents by at least 5% across all key criteria, and the continued implementation of its restructuring plan through 2025.
During the conference, Deputy Minister of Transport Nguyen Danh Huy commended VNR’s progress, particularly its focus on three key pillars: infrastructure, transportation, and the railway industry.
He praised the company’s efforts in maintaining and upgrading railway infrastructure and improving service quality across the network.
The railway sector itself has seen considerable modernization. VNR has upgraded its fleet and formed partnerships with external businesses to introduce new rolling stock, enhancing the overall passenger and freight experience.
Preparing for the future
Looking to the future, Deputy Minister Huy raised concerns about the adequacy of the railway workforce and the ongoing need for human resources development within the sector. He emphasized that the Ministry of Transport is ready to introduce policies that support the sector, such as mechanisms for short-distance rail car orders and funding for railway industrial development.
Nguyen Ngoc Canh, Deputy Chairman of the State Capital Investment Corporation, urged VNR to adopt a forward-thinking approach and improve efficiency in capital usage and project transparency. He also stressed the importance of enhancing domestic production of railway equipment and investing in skilled human resources to support the high-speed railway project.
As the high-speed North-South railway project progresses, it is expected to become a catalyst for significant change in the railway industry, setting the stage for a more sustainable and advanced transportation infrastructure in Vietnam./.
