A Haraco train. Photo vantaiduongsathanoi.vn

HÀ NỘI — Hanoi Railway Transport JSC (Haraco) did quite well in the first quarter of 2023 with 203,403 passengers being transported, three times higher than the figure in the same period last year.

Haraco Chairman Đỗ Văn Hoan said the company made a revenue of VNĐ300 billion (US$12.8 million) from passenger transport in Q1/2023, up 200 per cent year-by-year. Freight transport fell slightly but not large enough to offset the surge in passenger transport.

As such, the chairman forecast Haraco would be profitable in 2023, earning around VNĐ550 million yearly. It was also worth noting that the company made a profit of VNĐ5.7 billion last year despite a previous forecast of loss.

However, good news goes only so far. Hoan was concerned that the global economic downturn would continue to weigh on freight transport in Q2, driving Haraco's freight revenue to around 80 per cent of the figure in Q2/2022.

That means the target of reaching 90 per cent of 2022's freight revenue in 2023 would be out of reach unless the Government takes measures to support the sector. 

The chairman said he was pressing the Vietnam Railways Corporation for a cut in charges and fees to relieve transport firms' financial woes. He also said Haraco would deploy 55 more trains between April 28 and May 3 to cater for the growing transport demand during the upcoming holidays. — VNS