The domestic railway industry should be reformed in order to increase its competitive ability and revenue in the second half of this year, an official of the Ministry of Transport has said.
The Vietnam Railway Corporation’s revenue reached VNĐ1.95 trillion (USD 88.6 million) in the first half of this year, which was 77.5 per cent of revenue in the same period last year.
The low revenue was partly due to the collapse of the Ghềnh Railway Bridge in Đồng Nai Province, affecting the transport of cargo and passengers in May and June. In addition, the railways have faced severe competition from low-cost airlines.
The local railway industry still has numerous limitations and is not being utilised to its full potential, Trần Ngọc Thành, chairman of Vietnam Railway Corporation, said.
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