Vietnam: Ministry works to boost rail import-export volume to 5 million tonnes by 2030

• Nov 29, 2022

The Ministry of Transport has submitted a plan to increase international freight transport by rail by 2030, with a target of shipping between 4 and 5 million tonnes.

The volume of goods imported and exported by rail stood at 1.1 million tonnes in 2021.

The plan submitted to the Prime Minister was completed based on feedback of seven ministries and sectors involved.

The ministry said increasing fuel prices have resulted in higher road transport costs, leading to a trend of shifting to rail transport. In the context of multinational corporations restructuring their supply chains, the demand for international intermodal freight transport by rail between Vietnam and China, and for transit to Europe, Russia, Mongolia and Central Asian countries.

The body informed the PM that the investment process for improved capacity of railway infrastructure will be divided into two phases. The first, lasting from 2022 to 2025, will see the mobilisation of about 3.5 trillion VND (141.13 million USD) from the State budget to upgrade seven stations and warehouses, container yards, railways and locomotives.

The most urgent issue at this time is to announce the stations with international rail transport operations like what has done for international seaports and airports, stressed the ministry.

Currently, seven out of 14 stations with international transport demand have yet to reach the status./. VNA