Merging of 2 Railway Transport Companies Hanoi and Saigon

Railway Transport Joint Stock Company officially operates from November 1, 2024 on the basis of merging two railway transport companies Hanoi and Saigon.

Vietnam Railway Corporation said that from today (November 1), the Railway Transport Joint Stock Company officially operates on the basis of merging two companies: Hanoi Railway Transport Joint Stock Company and Saigon Railway Transport Joint Stock Company.

Accordingly, Railway Transport Joint Stock Company (VTR), with the English name Railway Transport Joint Stock Company, was merged by Hanoi Railway Transport Joint Stock Company (HRT) and Saigon Railway Transport Joint Stock Company (SRT). Headquarters are located at 130 Le Duan Street, Nguyen Du Ward, Hai Ba Trung District, Hanoi City.

Railway Transport Joint Stock Company officially operated from November 1.

This merger is to implement the policy of restructuring enterprises and units under Vietnam Railway Corporation.

On June 26, 2024, the Prime Minister approved the "Project to restructure Vietnam Railway Corporation until the end of 2025". In which, the Prime Minister requested to complete the merger of Hanoi Railway Transport Joint Stock Company and Saigon Railway Transport Joint Stock Company into one Railway Transport Joint Stock Company, to be completed in 2024.

Regarding the organizational structure, the Railway Transport Joint Stock Company will consist of 8 departments, 17 affiliated branches and a base in Ho Chi Minh City; including 4 train car branches, 2 railway attendant branches and 11 railway transport branches. The total number of employees is 4,877 people.

The company's leadership consists of a Board of Directors with 5 members, chaired by Mr. Do Van Hoan; and a Board of Directors with 5 members, led by Mr. Dao Anh Tuan, general director.

"The official operation of the Railway Transport Joint Stock Company marks a major change in railway transport to improve production and business efficiency, reduce costs, and lower transportation costs.

The company focuses on 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," said a representative of Vietnam Railways Corporation.

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