Restructuring Vietnam Railway Corporation

Deputy Prime Minister Le Minh Khai has just commented on the plan to restructure enterprises and units under the Vietnam Railways Corporation. Accordingly, the Deputy Prime Minister agreed on the policy of restructuring enterprises and units under the Vietnam Railways Corporation.

Specifically, to reduce the focal point of the branch of the locomotive factory from 5 branches of locomotive factory to 3 branches of locomotive factory.

Transfer the status quo of all activities, assets and people existing at the 3 Railway Project Management Boards of Regions 1, 2 and 3 to 1 Railway Project Management Board with the best conditions in terms of scale, experience, practice… to perform the function of representing the investor in managing railway projects invested by Vietnam Railways Corporation. Terminate the operation of the remaining 2 railway project management boards.

Consolidation of Hanoi Railway Transport Joint Stock Company and Saigon Railway Transport Joint Stock Company into 1 railway transport joint stock company.

The Deputy Prime Minister assigned the Committee for the Management of State Capital at Enterprises to direct the Vietnam Railways Corporation to urgently restructure the above enterprises and units to ensure compliance with the provisions of law, develop effectively, absolutely not to lose capital and property of the State; finalize the Project on restructuring the Vietnam Railways Corporation in the 2021-2025 period to ensure compliance with Decision No. 360/QD-TTg dated March 17, 2022; submit to the Prime Minister for consideration and decision.

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