Vietnam Railways establishes new asset and TOD development department

Vietnam Railways (VNR) has officially established the Asset and Transit-Oriented Development (TOD) Department. This new unit is tasked with advising the Board of Members and Executive Board on managing, investing in, and commercially exploiting the Group’s land and asset funds.

The department will lead the creation of strategies to enhance non-transport revenue and research urban development models centered around railway stations. This includes preparing investment projects, negotiating with partners, and developing joint venture models to maximize the potential of railway assets.

According to VNR Chairman Dang Sy Manh, asset and TOD development is positioned as a strategic pillar alongside infrastructure, transport, and industry. He noted that this approach follows international lessons, such as those in Japan, where railway systems are sustained by the commercial success of the areas surrounding their stations, summarized by the principle of “using railways to feed railways.”