HÀ NỘI — CEO of Hanoi Transport Services Corporation (Transerco) Nguyễn Hoàng Trung was appointed the corporation’s chairman in Hà Nội on Monday.

The appointment decision was made by Chairman of Hà Nội People’s Committee Nguyễn Đức Chung.

Trung replaces Nguyễn Phi Thường, who was assigned to be Party Secretary of the city’s Ứng Hòa District.

Transerco is a large-scale State-owned enterprise under the management of the Hà Nội People’s Committee, with about 10,000 workers. It ranked 256th on the list of the 500 largest firms in Việt Nam in 2016.

Chairman Chung said Transerco was a large and prestigious enterprise of the city in the field of public passenger transport. In the past two years, the corporation has opened many new bus routes and performed well in the management of operations, making significant contribution to improving transport capacity and attracting more passengers to use the service.

Chung said he expected the new chairman of Transerco, with his experience and capacity, would promote the quality of service as well as raising the number of passengers using the buses.

“The corporation should further invest in new vehicles, which need to be modern and environmentally friendly, applying information technology in ticket management and expanding market share,” said Chung.

Transerco has 12 local bus units, four subsidiaries including Hà Nội Transport Station JSC and Hà Nội Transport Service JSC and five joint ventures including Toyota TC – Hanoi Car service Company, Sakura Hanoi Plaza Joint Venture Company and Giảng Võ Development Ltd, Company.

According to the financial report of Transerco, it has made revenue of around VNĐ3 trillion for many years. In 2017, it earned more than VNĐ2.94 trillion (US$125.67 million) and after-tax profit of over VNĐ47.3 billion.

The corporation expected to earn VNĐ2.91 trillion in revenue and VNĐ50 billion in after-tax profit this year.  It also plans to spend VNĐ417 billion for implementing projects. — VNS