The New Metro Line: Unveiling the Remuneration of the Top Executives Behind its Success A talented team of executives is crucial to the success of any major infrastructure project. As the new metro line between Nhon and Hanoi Station welcomes over 100,000 passengers in just three days, the public is curious to know: how much do the top executives of the managing company earn? This question sparks interest as the line’s impressive performance unfolds.

At 8 am on August 8, the elevated section of the Nhon – Hanoi Railway Metro Line 3 was officially opened to the public, offering free rides for 15 days. The Hanoi Railway Limited Company (Hanoi Metro) is in charge of operating this metro line.

According to Mr. Vu Hong Truong, Chairman of the Board of Members and General Director of Hanoi Railway Limited Company, the line served over 100,000 passengers in the first three days of operation.

Interestingly, this company is also responsible for operating the Cat Linh – Ha Dong Metro Line. So, how much do the leaders of the company earn while managing these two major metro lines?

As of June 2023, according to Hanoi Metro’s Enterprise Information Disclosure, the company has four managers: Mr. Vu Hong Truong (Economics PhD) serves as the Chairman of the Board of Members and General Director; Mr. Nguyen Van Ngoc is the Head of the Administration and Organization Department, a Member of the Board of Members, and the Deputy General Director; Mr. Nguyen Trung Kien, Deputy Head and Head of the Train Operation Division, is also a Member of the Board of Members; and Mr. Le Ngoc Quang is the Head of the Planning and Projects Division and the Deputy General Director.

Accordingly, Mr. Truong’s provisional salary (80% of the full amount) is 21.6 million VND per month. The other three managers, Mr. Ngoc, Mr. Kien, and Mr. Quang, each receive 18.4 million VND monthly.

This means that in 2023, Mr. Truong’s provisional salary totaled 259.2 million VND, while Mr. Ngoc and Mr. Kien each earned 220.8 million VND, and Mr. Quang received 201.6 million VND.

The company’s audited 2023 financial report revealed that the salary and remuneration for the Board of Management and the Supervisory Board amounted to 44.16 million VND. The salary for the General Director and other managers exceeded 1.167 billion VND, a slight decrease from the 1.274 billion VND recorded in 2022.

For the 2024 business plan, the company aims to transport 81,577 passengers with a total of 10,959,825 passengers, and generate 74.484 billion VND in revenue from urban railway public passenger transport.

This year, the company is preparing to establish two branches to operate the Cat Linh – Ha Dong Urban Railway Line 2A and the Nhon – Hanoi Railway Metro Line 3.1 (elevated section).

In terms of investment plans for 2024, the company has one ongoing project, the “Support for Management, Operation, and Exploitation of the Cat Linh – Ha Dong Urban Railway Line.” During this year, the company expects to finalize payment procedures for the contractor executing Package 03 – Consulting Services for Management, Operation, and Exploitation of the Cat Linh – Ha Dong Urban Railway Line, and commence Package 04 – Consulting Services for Project Audit.