More than 20 Vietnam Railway companies will be equitised this year,marking the key provision of the corporation's efforts to complete itscomprehensive restructuring plan.
The equitisation is aimed at creating a self-motivating business model and mobilise financial resources to update the sector.
Thecompanies, including Hanoi and Saigon railways, railway infrastructuremanagement companies and Di An and Gia Lam train companies, willofficially operate under the joint stock model beginning January 1,2016.
According to the restructuring, the Di An Train Companywill be the first to be equitised on September 30. Meanwhile, the valueof Hanoi and Saigon railways and the Gia Lam Train Company will be setin March, while the remaining companies' values will be determined inDecember.
The domestic railway has operated for more than 100years, though it is struggling due to out of date technology andservices, in comparison with other industries in Vietnam. Officials notethat its great advantage is its nearly 40,000 workers.
In arecent talk show on television, Chairman of the Vietnam RailwayCorporation Tran Ngoc Thanh said the renovation of trains, stations,bridges, roads and signal information systems should be carried out atthe same time.
"We have determined that the equitisation willseek to become a transparently-operated business and an equalenvironment for the various economic sectors that take part in thistransport," said Thanh.-VNA
The equitisation is aimed at creating a self-motivating business model and mobilise financial resources to update the sector.
Thecompanies, including Hanoi and Saigon railways, railway infrastructuremanagement companies and Di An and Gia Lam train companies, willofficially operate under the joint stock model beginning January 1,2016.
According to the restructuring, the Di An Train Companywill be the first to be equitised on September 30. Meanwhile, the valueof Hanoi and Saigon railways and the Gia Lam Train Company will be setin March, while the remaining companies' values will be determined inDecember.
The domestic railway has operated for more than 100years, though it is struggling due to out of date technology andservices, in comparison with other industries in Vietnam. Officials notethat its great advantage is its nearly 40,000 workers.
In arecent talk show on television, Chairman of the Vietnam RailwayCorporation Tran Ngoc Thanh said the renovation of trains, stations,bridges, roads and signal information systems should be carried out atthe same time.
"We have determined that the equitisation willseek to become a transparently-operated business and an equalenvironment for the various economic sectors that take part in thistransport," said Thanh.-VNA
