Vietnam National Railway Group established the Asset Development and TOD Committee

Rail Transit Exhibition News: On October 9, Vietnam State Railway Group (VNR) officially established the Railway Asset Development and TOD Committee, responsible for the investment development and commercial operation of the group's railway land and assets, as well as studying and promoting the Transport Oriented Development (TOD) of railway stations and surrounding areas. This move marks the Vietnam State Railway Group's elevation of railway asset development and TOD business to a key strategic position for the group.

According to Decision No. 1583/QĐ-ĐS, the newly established committee will serve as the advisory and auxiliary department of the Group Member Committee, the Chairperson of the Member Committee, and the General Manager's Office, responsible for the management, investment, development, and commercial utilization of railway land and assets. The committee will take the lead in formulating the list of railway asset development projects, development strategies, and implementation plans, and will guide and supervise the group's subsidiaries in carrying out related work to improve asset utilization efficiency and increase income sources beyond railway transportation operations.

In terms of TOD development, the committee will study and propose urban planning and development recommendations oriented toward public transport, promote commercial and service industry development in railway stations and surrounding areas, and facilitate the integration of railway transport facilities with urban functions. In addition, the committee will undertake research and preliminary work for related investment projects, seek potential partners and investors, conduct cooperation negotiations, and study the establishment of various business cooperation models such as joint operations, joint ventures, and other joint development projects. The Commission will also develop related commercial products and services, and within its authorized scope, carry out investment, operation, and development of telecommunications infrastructure.

At the committee's inauguration meeting, Đặng Sỹ Mạnh, Chairman of Vietnam State Railways Group, urged the new department to promptly fulfill the responsibilities assigned by the group, requiring concrete achievements in everything from personnel organization and management systems to development roadmaps. He emphasized that the committee must clearly define the specific tasks and outcomes to be completed in each stage by the end of 2026, 2027, and before 2030, and separately study the directions for asset development and TOD development for existing and new railways. Currently, the report has not disclosed the specific list of projects for each stage, investment amounts, or quantitative construction indicators.

Deng Shimeng stated that railway asset development and TOD business will form an important pillar of the Group's future development together with railway infrastructure, transportation, and industrial businesses. He specifically mentioned the experience of integrated development of Japanese railway stations: by reorganizing the layout of railway facilities in station areas, some stations have freed up more space for commercial and urban development; Some projects have also placed part of the railway facilities underground, creating conditions for above-ground TOD development. These development models not only generate commercial revenue but also help promote urban renewal around the station, supporting sustainable railway development through railway asset development and achieving "railways to sustain railways."

Deng Shimeng also pointed out that Vietnam's railway has focused more on asset management in the past, while its emphasis on asset development and TOD business and actual effectiveness remain insufficient. He called on the new department to shift its development mindset, conduct in-depth research on international experience while complying with laws and regulations and adhering to long-term sustainable development, proactively formulate railway asset development strategies, and avoid being in a passive position during development.

According to relevant decisions, Lê Đình Hà, former General Manager of Saigon Railway Joint Stock Company, was appointed Director of the Railway Asset Development and TOD Committee, with Phạm Thị Huế, Phạm Thanh Tùng, and Nguyễn Trọng Hiếu as Deputy Directors.

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