Prime Minister Pham Minh Chinh has approved, in principle, an increase in charter capital for  VNR and has instructed relevant authorities to develop a restructuring plan to reorganize the corporation under a group model.

The Government Office has just released the conclusions of Prime Minister Pham Minh Chinh, who is also Head of the Steering Committee for National Key Railway Projects, following the committee’s first meeting.

According to the statement, the Prime Minister emphasized that rail transport is a vital sector that must be prioritized for investment.

The development of the railway system plays a strategic role in driving socio-economic growth, particularly through high-speed North–South railway lines, urban railways, and rail links connecting ports, industrial zones, major cities, and international railway corridors.

The Steering Committee outlined that upcoming investments in the railway system will be extensive. These include the high-speed North–South railway project, the Lao Cai–Hanoi–Hai Phong railway, urban railways in Hanoi and Ho Chi Minh City, and routes such as Lang Son–Hanoi and Hai Phong–Ha Long–Mong Cai.

Prime Minister Chinh has set the objective for Vietnam to be able to domestically produce railcars, locomotives, and related railway industrial ecosystems by the period 2030–2045.

To achieve this, he tasked the Ministry of Industry and Trade - working in coordination with the Ministry of Construction and other relevant ministries - with drafting a master plan for the development of the railway industry. The proposal is to be submitted to the government by June.

The Ministry of Finance has been assigned to prepare a restructuring plan for Vietnam Railways Corporation based on a corporate group model. This would enable VNR to take part in all phases of railway projects - from pre-investment to execution, and later to infrastructure management, operations, and maintenance once the projects are completed.

The Vinh