Vietnam Railways train running across the Đuống Bridge in Hà Nội. — VNA/VNS Photo

HÀ NỘI — Vietnam Railways Corporation has officially been transformed into Vietnam National Railway Group, as the State-owned railway operator moves towards a diversified economic group model aimed at modernising the sector and promoting a modern and sustainable national transport system.

According to the registration certificate issued by Hà Nội Department of Finance on August 11, the new company is named Vietnam National Railway Group (VNR).

The parent company is a single-member limited liability company wholly owned by the State, according to its newly issued enterprise registration certificate.

The group will inherit all rights, obligations and responsibilities of Vietnam Railways Corporation, including those arising from contracts, agreements and other arrangements signed with relevant parties, in accordance with applicable laws.

Under the new model, VNR will operate as a diversified economic group, with rail transport, railway construction and maintenance, railway industry and railway services identified as its core business areas.

The restructuring comes as the Government seeks to strengthen the railway sector's capacity to support national transport and logistics development.

On August 6, Prime Minister Lê Minh Hưng issued Decision 1504/QĐ-TTg assigning tasks and key targets for VNR’s development strategy for the 2026-30 period.

The decision calls for the establishment of Vietnam National Railway Group as a diversified economic group, with a focus on modern, safe and efficient rail transport.

By 2030, VNR is expected to fully apply OECD corporate governance principles on a digital platform, with the aim of improving transparency, efficiency and modern management practices.

The company is also tasked with accelerating the application of science and technology, innovation and digital transformation across management, operations and business.

By 2035, VNR is expected to become a major domestic railway economic group capable of operating and maintaining new railway lines and a modern national railway network.

It is also expected to play a central role in multimodal logistics and international rail transport, while contributing to the development of a modern and sustainable national transport system. — BIZHUB/VNS