The Ministry of Finance has proposed upgrading Vietnam Railways (VNR) Corporation into Vietnam National Railway Group to advance the domestic railway industry with the focus on implementing the North-South high-speed railway mega project.

A North-South railway line running through Khanh Hoa province.

The proposal is part of a restructuring plan of VNR for the 2026-2030 period with a vision to 2050 recently submitted to the Government for consideration.

The plan aims to transform the current State-owned corporation into a group model under the name Vietnam National Railway Group with the parent company to operate as a single-member limited liability company with 100% State ownership.

Under the plan, the restructuring would be carried out in phases with the establishment of specialised subsidiaries.

Specifically, by the end of 2027, a Vietnam Railway Industry Corporation is expected to be formed. By the end of 2029, a Vietnam Railway Electrification One-Member Limited Liability Company would be set up, and a Vietnam Railway Infrastructure Corporation, by the end of 2031.

The Ministry of Finance said that the overhaul is driven by new mandates assigned by the National Assembly, the Government, and the Prime Minister, including resolutions on investment policy for the North-South high-speed railway and Lao Cai–Hanoi–Hai Phong line, which requires urgent restructuring in capital raising, human resources, and organisational model.

Regarding financial resources, the ministry said it would develop plans to supplement the charter capital for the new group.

Notably, VNR is expected to receive additional public assets, including the Da Lat–Trai Mat railway line and several existing stations such as Hai Phong, Thanh Hoa, Vinh, Hue, and Sai Gon.

The Da Lat–Trai Mat line alone is estimated to be worth around 50 billion VND (2 million USD), which would bring the group’s projected charter capital to nearly 32.41 trillion VND in the 2026-2030 period and more than 49.78 trillion VND in 2031-2035.

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