HANOI, June 27 (Xinhua) -- Vietnam's National Assembly on Friday passed the amended Law on Railways, introducing a range of incentives to encourage private enterprises to participate in the railway sector, Vietnam News Agency reported.
Under the revised law, organizations and individuals involved in railway business activities will be eligible for exemptions or reductions in land use fees and land rent for areas designated for railway use.
They will also have access to state investment credit or government-guaranteed loans when investing in national or local railway infrastructure.
The government will prioritize budget allocations for the development, upgrading, maintenance and protection of railway infrastructure, as well as for the growth of the railway industry. ■