Passengers leave a North-South train operated by the Hanoi Railway Transport JSC.(Photo: VNA)
Hanoi (VNS/VNA) - Vietnameserailway companies reported large losses in 2020 due to the impacts of theCOVID-19 pandemic.
The Hanoi Railway Transport JSC (HRT) earned 469 billion VND (20.5 million USD)in the fourth quarter of 2020, down 21 percent year-on-year.
Cost of goods sold accounts for most of net revenue, thus gross profit totaledonly over 8 billion VND, down sharply compared to 42 billion VND in the sameperiod of 2019. After deducting expenses, the after-tax loss in Q4 wasestimated at nearly 55 billion VND, while in the same period last year its losswas just more than 12.5 billion VND.
In 2020, HRT achieved revenue of 1.94 trillion VND, down 24 percentyear-on-year. It suffered a loss of 195 billion VND in the year while enjoyingprofit of 14 billion VND in 2019.
Previously at the General Meeting of Shareholders in 2020, the company approveda plan for 2020 which expected total revenue to reach 1.63 trillion VND, and aloss up to 335.4 billion VND due to the influence of COVID-19.
The Saigon Railway Transport JSC (SRT) announced Q4 revenue of 282 billion VND,down by 22.5 percent year-on-year. It reported an after-tax loss of more than 105billion VND.
For the whole year 2020, SRT reported an accumulated loss of 218 billion VND,while the business had a profit of 14.6 billion VND in 2019.
Due to the impact of the COVID-19 pandemic, many railway companies faceddifficulties. According to experts, the railway industry in 2020 experiencedthe most difficult period in history.
The Vietnam Railway Corporation (VNR) also announced that its revenue in thefirst nine months of 2020 decreased 34.2 percent year-on-year, equivalent to adecrease of 1.18 trillion VND./.
The Vietnam Railway Corporation (VNR) faces the most difficult period in its history due to the COVID-19 pandemic and flooding in central Vietnam, according to VNR chairman Vu Anh Minh.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Passengers leave a North-South train operated by the Hanoi Railway Transport JSC.(Photo: VNA)
