Official merger of two railway transport companies

From today, November 1, 2024, Railway Transport Joint Stock Company will officially come into operation.

Railway Transport Joint Stock Company was established on the basis of merging Hanoi Railway Transport Joint Stock Company and Saigon Railway Transport Joint Stock Company according to the restructuring plan of enterprises and units under Vietnam Railways Corporation approved by the Prime Minister in Document No. 303/TTg-DMDN dated April 7, 2022 and Decision No. 562/QD-TTg dated June 26, 2024 of the Prime Minister approving the Project on restructuring Vietnam Railways Corporation for the period up to 2025.

Regarding the organizational structure, the Company will consist of 08 departments, 17 affiliated branches and facilities in Ho Chi Minh City, including 04 Carriage Branches, 02 Railway Attendant Branches and 11 Railway Transport Branches. The headquarters of the Railway Transport Joint Stock Company is located at 130 Le Duan Street, Nguyen Du Ward, Hai Ba Trung District, Hanoi City. The Company's leadership consists of a Board of Directors with 5 members, with Mr. Do Van Hoan as Chairman of the Board of Directors; a Board of Directors with 5 members, with Mr. Dao Anh Tuan as General Director.

The event of the Railway Transport Joint Stock Company officially coming into operation marks a major change for railway transport in order to improve the efficiency of railway transport production and business, reduce costs, and reduce transportation costs. The Railway Transport Joint Stock Company also focuses resources, finance, and means of transport to enhance competitiveness, improve corporate governance efficiency, and increase the ability to mobilize capital for railway transport development plans.

In the immediate future, the Company will strive to achieve and exceed the targets assigned by the General Meeting of Shareholders, fulfill its obligations to pay the State budget; gradually improve employment and living standards for employees. Focus on improving competitiveness, strive to gradually expand the market share of railway transport in terms of both passengers and goods. In addition to railway transport business activities, the Company will focus on developing supporting services to increase product value, increase revenue and create more jobs for employees. The Company will also strive to preserve the capital and assets of the enterprise, ensure profits and the rate of return on capital of the enterprise according to the Resolution of the General Meeting of Shareholders of the Company.

For the shareholders of the two former Hanoi and Saigon Railway Transport Joint Stock Companies, who will become shareholders of the Railway Transport Joint Stock Company, in addition to enjoying the increased benefits from the merger, shareholders will have the advantage of learning and in-depth evaluation of the operational efficiency of the Railway Transport Joint Stock Company and the railway transport market.

Source: https://vr.com.vn/tin-tuc--su-kien/chinh-thuc-hop-nhat-hai-cong-ty-van-tai-duong-sat.html