According to Decision No. 498 of the Government approving the Project on restructuring Vietnam Railways Corporation for the period 2026 - 2030, with a vision to 2035, this enterprise is oriented to develop into an economic group.
According to the decision, the restructuring aims to improve competitiveness and promote the role of Vietnam Railways Corporation as a key enterprise in managing, operating, exploiting and maintaining the national railway system.
Businesses will play a leading role, linking units in the value chain; gradually master core technology; expand access to large capital sources; attract strategic investors and high-quality human resources; and participate more deeply in regional and international value chains.
The project also sets a goal to ensure jobs, increase income for workers, and at the same time fulfill obligations to the State budget. In the period 2026 - 2030, the Corporation (after conversion) strives to achieve an average revenue growth rate and output value of 10%/year or more.
One of the key contents of the project is to transform the operating model from the parent company group - subsidiary of Vietnam Railways Corporation to the parent company group - subsidiary of Vietnam National Railways Group.
Accordingly, the parent company of the group will be a state-owned enterprise with 100% charter capital. The new Group inherits all rights, obligations, responsibilities and legal commitments of Vietnam Railways Corporation today. The conversion roadmap is required to be completed in 2026.
The Government requests to develop a plan to supplement charter capital for enterprises from many sources, including the State budget, public assets formed from public investment projects and other legal capital sources.
The capital increase is to ensure financial capacity so that businesses can participate in the implementation of large projects such as the North-South high-speed railway, the Lao Cai - Hanoi - Hai Phong route and other key railway infrastructure projects.
The Ministry of Finance is assigned to take the lead in implementing the project; direct businesses to implement model conversion; develop a plan to increase charter capital and complete a specific financial management mechanism, expected to be submitted to the Government in June. This agency is also responsible for coordinating with ministries and sectors to inspect and supervise the implementation process, and at the same time propose amendments to relevant regulations to remove obstacles.
The Ministry of Construction is assigned to take the lead in handling issues related to the management and exploitation of national railway infrastructure assets; research and develop railway industrial complex; and coordinate in building a mechanism for ordering and training human resources to serve the operation and exploitation of the railway system in the new period.
