Vietnam Railways Corporation proposes US$34.5 mln interest-free loan

Vietnam Railways Corporation yesterday proposed the Committee for Management of State Capital at Enterprises (CMSC) for 
many solutions to overcome the current difficulties, especially  interest-free loan worth US$34.5 million to maintain its production and business activities. 
Besides, Vietnam Railways Corporation also proposed CMSC to give support policies for 13,000 unemployed transport workers due to Covdi-19.
Vietnam Railways Corporation proposes US$34.5 mln interest-free loan  ảnh 1

In the first six months of the year, the revenue from railway transport is estimated at 77 percent over the same period in 2020, equaling to 53 percent compared to 2019 when the Covid-19 pandemic did not outbreak yet.

With the current complicated and unpredicted Covid-19 pandemic, the railway industry will lose VND942 billion (US$40.7 million) in revenue on freight and passenger transportation this year.

After two consecutive years, the railway industry will lose more than VND2,200 billion (US$95 million) in revenue.

With the huge impacts of Covid-19, interest-free loan worth US$34.5 million is very low level to help Vietnam Railways Corporation maintain cash flow.