VNBusinessNews.com – Germany has effectively helped restructuring and increase the business performance of the railways sector through a 2.1 million EUR project.
The Viet Nam Railways Corporation (VRC) and the German Technical Cooperation (GTZ) jointly held a seminar in Hanoi on April 28 to review the project, which was carried out from 2001-2008.
Addressing the seminar, VRC Deputy General Director Nguyen Dat Tuong said the sector’s performance has improved remarkably after the restructuring, posting an annual revenue growth of over 12 percent in the 2003-2008 period. Especially, the sector has attracted investment from the foreign-invested and private sectors in railway transportation.
Under the project, the State management of the railways sector has been separated from business functions with the establishment of the Vietnam Railways Administration and the Vietnam Railways Corporation.
The project also helped drafting the Railways Law, making a legal framework for the development of the sector, ensuring equal participation of businesses of various economic sectors.
In addition, the Viet Nam Railways Corporation has also developed new services with support from the project, including container trains between Hai Phong-Lao Cai, Hanoi-Sai Gon and Da Nang-Saigon, and the Sai Gon-Phan Thiet tourism route.
VRC officials also benefited from many training courses to improve capacity of management of business and service quality.
Manfred Breihaupt, a senior expert of GTZ overseeing the project, said that the project played an important role in attracting support from other donors.
On this occasion, VRC leaders called on domestic and foreign partners, especially those from ASEAN, to continue to invest and cooperate in train service in Viet Nam. (VNA)
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Germany helps railway sector raise business performance
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