Vietnam’s railway industry saw growth in revenue and cargo transport in the first half of 2022, heralding a recovery ahead.
|VNR held a meeting to review the first-half performance on July 4 |
The state-owned railway giant Vietnam Railways (VNR) on July 4 held a meeting to review the first-half performance and set tasks for the second half.
Accordingly, VNR’s consolidated revenue was estimated at about $143.47 million, up 5.2 per cent on-year.
The parent company VNR alone made revenue of over$42.95 million, a rise of 22.5 per cent from the same period last year.
Despite the increase, revenue growth remains lower than in the same period of 2019.
At present, the railway industry is also facing difficulties due to rising fuel costs.
To fulfil the 2022 targets, VNR aims to make revenue of over $167.82 million in the second half, up 5.4 per cent on-year.
The industry will continue to boost passenger and cargo transport, focusing on traditional items of huge volume like fertilisers, coal, rice, salt, and others. It will also boost international freight trains to meet demands.
VNR and its units have faced some major losses over the past two years. In 2021, VNR reported a loss of around $30 million.