The Vietnamese railway sector should identify major pillars to grow further in 2023, Deputy Minister of Transport Nguyen Danh Huy said at a recent conference held by Vietnam Railways (VNR).
The transport sector has carried 3.35 billion passengers in the past 11 months, a surge of 48.7% year on year, according to Chief of the Office of the Ministry of Transport Nguyen Tri Duc.
According to Vu Anh Minh, chairman of Vietnam Railways Corporation (VNR), over the past time, railway freight transport between Vietnam and China has seen an increase in transported goods.
The Vietnam Railways Corporation (VNR) has proposed the Ministry of Transport allocate a total of 4.76 trillion VND (208.1 million USD) to repair and upgrade weak bridges and tunnels so as to increase the capacity of trains and ensure traffic safety.
Deputy Prime Minister Le Van Thanh has requested the Vietnam Railway Corporation (VNR) to make drastic reforms so as to address shortcomings and develop the sector further in the time ahead.
In order to mobilise 240 trillion VND (10.5 billion USD) for national railway development in the next 10 years as set by the freshly-approved railway planning for the 2021-2030 period, economists said that it is crucial to design specific capital attraction mechanisms.
The Ministry of Transport (MoT) has proposed total investment of 240 trillion VND (10.4 billion USD) for the expansion of the railway network from now until 2030, to be sourced by the State budget and other legal sources.
The Vietnam Railway Corporation (VNR) has proposed borrowing non-interest loans worth 800 billion VND (34.77 million USD) to deal with its difficulties caused by the COVID-19 pandemic.
Facing an increasing range of difficulties in business, the railway sector is exerting its maximum efforts to restructure itself for changes and survival.
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 pair of trains that run daily between Hanoi and Ho Chi Minh City will be suspended as from March 26 due to the impact of the COVID-19 epidemic, Hanoi Railway Transport JSC has announced.
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.
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