The Vietnam Government will reform more than 20 railway subsidiaries in the country this year, transforming them into joint stock companies. This will mark the key provision of the Vietnam Railway’s efforts to complete its comprehensive restructuring plan.
The move is aimed at creating a self-motivating business model and mobilising financial resources to update the sector. The companies, including Ha Noi and Sai Gon railways, the railway infrastructure management companies and Di An and Gia Lam train companies, will officially operate under the joint stock model beginning with 1 January 2016. Di An Train Company will be the first to be restructured on 30 September.
Chairman of the Viet Nam Railway Corporation Tran Ngoc Thanh said the renovation of trains, stations, bridges, roads and signal information systems should be carried out at the same time.
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