The number of train passengers increased by more than 20%.
According to information presented at the conference, the Chief of Staff of Vietnam Railways Corporation, Nguyen Huu Thanh, stated that in the first six months of the year, the corporation's total revenue reached over 4,500 billion VND, a growth of 10.1%. The parent company alone achieved revenue of nearly 3,000 billion VND, a growth of 11.2%.
Many new passenger transport products and railway services have attracted train passengers, leading to double-digit revenue growth in the first six months.
“Passenger transport volume in the first six months increased by 20.6% compared to the same period last year. During the Lunar New Year alone, more than 650,000 train tickets were sold, generating revenue of 400.7 billion VND, equivalent to 107.5% compared to the same period last year,” Mr. Thanh said, adding that the Corporation has launched specialized train services reflecting regional cultural characteristics, such as the “Connecting Heritage” train on the Hue – Da Nang route, the “Da Lat Night Train Journey” tourist train, and charter trains with itineraries and services tailored to the client's requirements.
Regarding freight transport, the plan involves developing new cargo routes and creating conditions for increasing the value of services. Solutions will be implemented to enhance the volume of international intermodal rail transport. This includes renovating, upgrading, and putting into operation international intermodal transport services at Cao Xa; and expanding international intermodal transport products between Vietnam and China, transiting through China to third countries such as Russia, Europe, Mongolia, and Central Asian countries.
However, according to the Vietnam Railways Corporation, railway transport operations were disrupted twice due to landslides on the top of the Bai Gio and Chi Thanh tunnels, blocking the Hanoi -Ho Chi Minh City railway line. Transport companies promptly organized the safe transfer of passengers through the affected areas, providing free meals and drinks during the transfer. Ticket exchanges and refunds for passengers who did not wish to be transferred were processed smoothly and quickly without additional fees. The incident resulted in additional costs for repairs and indirect losses exceeding 106 billion VND.
Merging two transportation companies, aiming for a profit of over 53 billion.
Mr. Hoang Gia Khanh, General Director of Vietnam Railways Corporation, said that along with production and business activities, the corporation has implemented a restructuring of its organizational structure.
In the transportation sector, the corporation has completed the plan to merge the two railway transportation joint-stock companies, Hanoi and Saigon, into a single railway transportation company. The shareholders' meetings of both companies have approved the merger, and the boards of directors of both companies have approved the merger and signed the merger agreement. Currently, the two companies are carrying out the necessary procedures for the merger.
The railway company aims for a total profit of over 53 billion VND for the last six months of the year.
Regarding restructuring, on June 26, 2024, the Prime Minister signed Decision No. 562 approving the restructuring plan for Vietnam Railways Corporation for the period up to the end of 2025.
Therefore, the task set for the last six months of 2024 is to implement the restructuring plan according to Decision No. 562 of the Prime Minister; and to complete the merger plan of the two railway transport joint-stock companies according to the set schedule.
Regarding production and business, Vietnam Railways Corporation directs transport companies to focus on solutions to improve service quality, paying particular attention to solutions to overcome limitations and shortcomings reflected by customers such as: the quality of carriage cleanliness and passenger service equipment on newly added trains; the quality of carriage air conditioning, etc. Solutions are also being developed to attract tourists from localities to travel by train to tourist destinations. The corporation is also preparing to develop train schedules and plans for the Lunar New Year 2025…
To achieve its 2024 business plan, Vietnam Railways Corporation aims to complete key targets in the last six months of the year. Specifically, the entire corporation aims to achieve a combined output of VND 4,725.4 billion; revenue of VND 4,701.5 billion; and profit of VND 53.5 billion.
The parent company alone achieved revenue of VND 2,916.9 billion and a profit of VND 11.7 billion. In the transportation sector, direct revenue from transportation reached VND 2,039.7 billion, equivalent to 108.6% compared to the same period last year.
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