According to the business plan approved by the Committee for Management of State Capital at Enterprises, Vietnam Railways Corporation (parent company) this year wants to have a revenue of more than 6,500 billion VND and a profit after tax of only 3 billion dongs. The estimated 115 billion that this business will provide to the state budget.
If successful, Vietnam Railways Corporation will record a positive profit after three consecutive years of operating below cost. According to preliminary statistics, in 2022, the production and business activities of this enterprise will begin to recover from the epidemic and make a profit from the transportation business. The corporation's revenue reached more than VND 7,700 billion, up 14% over the same period and exceeding 16% of the year plan. However, profit after tax is still negative at 130.5 billion dongs. However, the above results help businesses reduce losses by more than 400 billion VND compared to 2021.
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Vietnam Railways estimates 60 million USD loss due to COVID-19
The Vietnam Railways Corporation aims to avoid suffering a loss from its core business operations this year. The Board of Directors determined that business activities have not yet fully recovered, while still facing many competitive pressures in passenger transport from air and road routes. The sea route's lower freight rates and the supply of ships returning to pre-epidemic levels have an impact on cargo transit as well.
The railroad sector had a strong comeback during the first quarter of the year. In particular, the Hanoi Railway Transport Company said that the passenger volume reached more than 800,000 people, an increase of about 200% over the same period. Passenger transport revenue reached about 300 billion VND, up 200% together. Similarly, the Saigon Railway Transport Company recorded a passenger volume of more than 660,000 people, an increase of about 136%. Passenger transport revenue reached more than 360 billion VND, up more than 147%.
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The use of a pricing strategy to attract demand on off-peak days, with reductions of between 50 and 65 percent depending on the kind of site, the management claimed, was the reason for the large number of visitors and income in addition to the peak travel at the beginning of the year. 
Other promotions sponsored by the training industry including buying three tickets and getting one free on specific routes, discounts for travel association groups, and savings for purchasing an entire hotel or a complete car.
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