Hanoi and Saigon Railway companies officially merge

The Hanoi Railway Transport JSC and the Saigon Railway Transport JSC have merged into the Railway Transport Joint Stock Company (VTR), which started official operation from November 1, according to the Vietnam Railways Corporation (VNR).

This merger is part of a restructuring plan for VNR's subsidiaries, under the  “Vietnam Railways Corporation restructuring plan through 2025”, approved by the Prime Minister on June 26, 2024.

VNR leaders said that the merger is aimed at improving productivity and business efficiency and unifying finances, resources and transportation assets to enhance competitiveness and business administration. It is also aimed at increasing capital mobilization ability for future development.