Merger of Hanoi and Saigon Railway Transport Companies

The Vietnam Railway Transport Joint Stock Company officially commenced operations on November 1, 2024, based on the merger of the Hanoi and Saigon railway transport companies.

The Vietnam Railways Corporation announced that, starting today (November 1st), the Railway Transport Joint Stock Company officially operates based on the merger of two companies: Hanoi Railway Transport Joint Stock Company and Saigon Railway Transport Joint Stock Company.

Accordingly, the Railway Transport Joint Stock Company (VTR), whose English name is Railway Transport Joint Stock Company, was formed by the merger of Hanoi Railway Transport Joint Stock Company (HRT) and Saigon Railway Transport Joint Stock Company (SRT). Its headquarters are located at 130 Le Duan Street, Nguyen Du Ward, Hai Ba Trung District, Hanoi City.

The Vietnam Railway Transport Joint Stock Company officially commenced operations on November 1st.

This merger is in line with the policy of restructuring enterprises and units under the Vietnam Railways Corporation.

On June 26, 2024, the Prime Minister approved the "Scheme for restructuring the Vietnam Railway Corporation until the end of 2025". In this scheme, the Prime Minister requested the completion of the merger of Hanoi Railway Transport Joint Stock Company and Saigon Railway Transport Joint Stock Company into a single Vietnam Railway Transport Joint Stock Company, to be completed within 2024.

In terms of organizational structure, the Railway Transport Joint Stock Company will consist of 8 departments, 17 branches and facilities in Ho Chi Minh City; including 4 rolling stock branches, 2 railway crew branches and 11 railway transport branches. The total number of employees is 4,877.

The company's leadership structure consists of a five-member Board of Directors chaired by Mr. Do Van Hoan; and a five-member Executive Board chaired by Mr. Dao Anh Tuan.

"The official commencement of operations by the Vietnam Railway Transport Joint Stock Company marks a major change for railway transport, aiming to improve business efficiency, reduce costs, and lower transport prices."

"The company is focusing its resources, finances, and transportation means to enhance its competitiveness, improve corporate governance efficiency, and increase its ability to mobilize capital for railway transport development plans," a representative of Vietnam Railways Corporation said.

Source: https://www.baogiaothong.vn/sap-nhap-2-cong-ty-van-tai-duong-sat-ha-noi-va-sai-gon-19224110116031583.htm