It has been the biggest slump in the company’s history,
Vu Anh Minh, its chairman, at a meeting on January 8 warned that 2021 could be bad too due to the continuing pandemic, competition from low-cost airlines and upgrades that could see some routes suspended.
Nguyen Thi Phu Ha, vice chairwoman of the Commission for the Management of State Capital at Enterprises (CMSC), said the rail company is facing huge losses. It is essential that railroad infrastructure improvement works are carried out carefully to attract private investment, she said.
Vietnam has over 3,000 km of track, none of it high speed. Last year, trains carried eight million passengers, down 6.9 percent year-on-year.