Domestic banks are expected to face increasing competition, especially as European banks will be able to access the Vietnamese market when the European Union-Vietnam Free Trade Agreement (EVFTA) takes effect.
The Vietnam Railways Corporation (VNR) officially launched an application to buy train tickets and pay online on smartphones from July 15 to improve customer services.
The Vietnam Railway Corporation (VNR) estimates a loss of nearly 1.4 trillion VND (60 million USD) after tax in 2020, a massive blow to the company due to impacts of the COVID-19 pandemic.
The Vietnam Railways Corporation (VNR) has asked the Ministry of Transport to propose Prime Minister Nguyen Xuan Phuc extend the expiry for locomotives and carriages by three years.
A total 152 trains have been suspended as travel demand plummets due to the novel coronavirus outbreak, leaving the railway sector facing losses of 90 billion VND (3.8 million USD) since the outbreak began, according to the Ministry of Transport.
The eruption of the COVID-19 pandemic caused by the SARS-CoV-2 virus all over the world has made severe impacts on socio-economic development. In particular, transport enterprises are suffering from sizeable losses.
Regulatory overlapping was the biggest problem at State-owned enterprises (SOEs) since they were handed over to the Commission for the Management of State Capital at Enterprises, officials have said.
Vietnam could cease to have an operating train system in less than two weeks unless a funding issue at the Vietnam Railways Corporation (VNR) is resolved, an official has said.
Prime Minister Nguyen Xuan Phuc has requested for an analysis on a proposal to move Vietnam Railways (VNR) under the umbrella of the Ministry of Transport following legal confusion that left the corporation with no budget for railway maintenance.
The railway sector is looking to attract more investment and improve its competiveness, but the lack of capital as well as mechanisms and policies has hampered its development.
Vietnam Railways (VNR) plans to upgrade rail infrastructure to satisfy passenger demand by building 300 new carriages and purchasing more locomotives by 2023 to provide better services.
More than 50 additional trains will be operated in various routes aimed at serving rising number of passengers during the coming National Day holidays, according to the Vietnam Railways (VNR).
The railway sector will focus on improving the service quality and facilities so as to attract passengers back and to return to its key position in transportation forms.
Vietnam Railway (VNR) has issued several preventative solutions in response to the increasing number of train accidents, with 27 train accidents left 17 people dead and 23 others injured in July 2019 alone.
The Hanoi Railway Transport JSC (Haraco), a subsidiary of Vietnam Railway (VNR), launched a North-South express freight train route to connect Hanoi’s Yen Vien station and Song Than station in southern Binh Duong province on July 31.
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