According to Doan Duy Hoach, VNR Deputy Director General, the company’s output and revenue hit VND7.97 trillion (US$350.9 million), and VND8.34 trillion (US$366.87 million), respectively, equivalent to 87.7% and 88.8% of the figures in 2015. The company earned post-tax profits of VND137 billion (US$6.03 million).
Hoach attributed the fall in output and revenue to the reduction of its joint stock companies and networking due to divestment and equitisation.
The collapse of the Ghenh Bridge in Dong Nai, storms and floods in the central region, uncompetitive transport prices, and newly-restructured subsidiaries also explained the corporation’s poor performance, Hoach said.
To improve the sector’s competitiveness and efficiency in 2017, VNR aims to submit a proposal to the ministry to enhance the performance of the railway network nationwide, with focus on the Hanoi – Vinh route.
VNR will also mobilise social resources, investing in means of transport and support facilities.
Additionally, the corporation will accelerate the implementation of key projects, particularly on infrastructure and train building.
Efforts will also be made to better business management and reform administrative procedures.
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