Vietnam railway group to be formed

A train runs on the Hanoi-HCM City railway route (Photo: songlam.com.vn)

The Vietnam Railway Corporation will be reorganized into the Vietnam Railway Group, according to the Strategy for Railway Transportation Development by 2020, which has been approved by the Prime Minister.

The Vietnam Railway Group will be an umbrella group and will operate under the holding-subsidiary model.

The holding company will be state-owned and responsible for administration, organization and maintenance of the group’s transport activities.

Subsidiary companies will operate their own independent account systems but will have close ties with the holding company in terms of brand, capital, technologies and other various fields.

By Q. Phuong – Translated by Quang Vinh

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