Viet Nam Railway Corporation is one member limited liability company
19:17 | 26/01/2018

VGP – The Government has issued Decree No. 11/2018/ND-CP stipulating the organizational structure and operations of the Viet Nam Railway Corporation (VNR).

Accordingly, the VNR is a one member limited liability company with a charter capital of VND3.25 trillion (US$143 million), totally held by the State. The company operates in line with the Railway Law, the Law on Enterprises, the Law on Management and Use of State Capital, provisions of relevant laws and these regulations.

The State is the owner of the VNR, with the Government unanimously organizing the exercise of the owner’s rights and obligations towards the VNR. The Ministry of Transport is assigned to exercise the rights and obligations of the owner’s representative office towards the VNR in accordance with the provisions of law.

The major business lines of the VNR include trading in railway infrastructure; managing, maintaining and exploiting railway infrastructure; providing national railway transportation operating services; trading in means of transport, machinery and equipment for railway infrastructure maintenance and construction; and trading in railway transportation and services supporting transportation methods.

The Member Council is the direct representative of the owner at the VNR. On behalf of the VNR, the Member Council will exercise the rights, responsibilities and obligations of the VNR in accordance with the Law on Enterprises, the Law on Management and Use of State Capital, other provisions of relevant laws and these regulations.

The number of members of the VNR’s Member Council will not exceed seven persons. If the Member Council of the VNR does not have enough members, within 90 days, the Member Council will submit a report to the Minister of Transport who will consider and supplement members to the council as prescribed.

The President and other members of the Member Council serve a tenure lasting no more than five years. 

                                                                                                                                        By Vien Nhu

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