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Banking & Finance

Vietinbank & Vietnam Railways sign MoU

Released at: 17:32, 09/06/2015

Vietinbank & Vietnam Railways sign MoU

Cooperative agreement provides for two sides to support each other over the 2015-2020 period.

by Hung Nguyen

Vietinbank and Vietnam Railways (VNR) signed a memorandum of understanding (MoU) on June 9 over providing mutual support during the 2015-2020 period.

The two parties will cooperate in investment, payments, capital mobilization, syndication loans, and joint ventures, among other things, using the advantages provided by their core businesses.

In the period from 2016-2020 VNR, Vietinbank and other investors, both local and foreign, will continue to implement investment projects to upgrade existing railway lines and key railway stations, especially those in large cities.

In engineering, VNR and Vietinbank will focus on projects building modern carriages, manufacturing train components, and assembling locomotives.

Deputy Minister of Transport Nguyen Ngoc Dong recognized the positive and proactive attitude of both sides and hoped that they would continue to implement the socialization goals for railway services and contribute to the country’s development.

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