The transformation took effect on 11/8, based on Government Decree 366/2025 concerning state capital management and investment in enterprises, alongside the Vietnam Railways Corporation restructuring plan for phase 2026-2030, with a vision to 2035.

Following the transformation, the Vietnam National Railway Group inherits all rights, obligations, and responsibilities of the former Vietnam Railways Corporation.

North-South passenger train. *Photo: VNR*

As directed by the Government, the Vietnam National Railway Group will operate as a multi-industry economic group. Its core activities will be railway transport, construction and maintenance, railway industry, and services.

The group model allows the enterprise to undertake 110 business lines, including dozens of new sectors such as civil construction, mechanical engineering, hospitality and tourism services, education and training, retail, and logistics services.

This group structure gives the parent company a greater role in strategic planning, capital management, and coordinating activities among member enterprises. Beyond the existing network, Vietnam is preparing to invest in major railway projects, including the North-South high-speed railway, lines connecting seaports and border gates, and routes for international intermodal transport.

When new lines become operational, the demand will extend beyond train operation to include infrastructure maintenance, equipment repair and manufacturing, railway service provision, logistics organization, and multimodal transport. The Vietnam National Railway Group will operate and maintain new railway lines and the modernized national railway network.

The enterprise's current charter capital is over 3,104 billion VND, held by the state.

By Anh Duy