Hanoi (VNA) – Prime Minister Pham Minh Chinh required that the railway industry optimise existing assets, finance and human resources to modernise its operation, contributing to developing transport and realising the strategic breakthrough of transport infrastructure set in the Resolution of the 13th National Party Congress.

Addressing a conference to launch production and business plans and tasks in 2024 of the Vietnam Railways Corporation (VNR) on January 9, the PM underlined the crucial role played by the railway sector in developing the national transport infrastructure.

He applauded efforts made by the sector to overcome difficulties and obstacles to gain remarkable achievements in 2023, which is the first year after the COVID-19 pandemic the sector has posted profit. 

He, however, pointed to problems that the sector should address, including cumbersome apparatus, low level of mechanisation and information technology application, outdated infrastructure, and limited budget investment in railway infrastructure development. 


The PM required the sector to apply modern administration methods suitable to the country's circumstances and its functions and task; restructure the apparatus for more effective use of existing assets and financial and human resources; promote digital transformation and green transition; and shift to circular and sharing economy, and knowledge economy.  

The VNR should serve as an important actor in implementing the National Railway Transport Development Strategy to provide a safe and convenient form of transportation for people and businesses, he said, adding that the corporation must urgently complete a plan on its restructuring to 2025 to submit to the PM for signing and issuance.

PM Chinh asked relevant ministries, sectors and localities to closely coordinate with the sector to effectively implement approved policies, resolutions, projects and railway development plans.

The same day, PM Chinh made an inspection trip to the Hanoi Railway Station, and the Hanoi-Da Nang high-quality train (SE19).

The VNR manages a railway system with a total length of 3,143 km, with five main routes, including two international inter-modal routes connecting with Chinese railway.

The sector transported 4.6 million tonnes of goods and 6.1 million passengers in 2023. Its total revenue from production and business activities topped 8.5 trillion VND (nearly 349 million USD), equal to 101.7% of the year plan. The firm’s after-tax profit in the year hit 94.8 billion VND./.