The Vietnam Railways Corporation (VNR) has set a target of earning revenue of over VND6.5 trillion ($275 million) this year under its production, trade, and investment development plan for 2023, which was approved recently.

It also aims to post after-tax profit of VND3 billion ($127,000), which would bring a run of consecutive losses over recent years to an end.

Impressive growth in passenger numbers was seen in the first quarter. The Hanoi Railway Transport JSC served 800,000 passengers, a year-on-year increase of 200 per cent, and earned revenue of VND300 billion ($12.7 million) from passenger transport.

The Saigon Railway Transport JSC, meanwhile, transported 660,000 passengers during the period, a year-on-year rise of over 130 per cent. It earned turnover of more than VND360 billion ($15.25 million).