The Ministry of Transport has just agreed to increase tolls on four expressways at the request of the management unit - the Vietnam Expressway Corporation (VEC) C). Under VEC’s proposal, the toll fee on highways Cau Gie - Ninh Binh, Noi Bai - Lao Cai, Da Nang - Quang Ngai, Ho Chi Minh City - Long Thanh - Dau Giay will surge.
According to VEC, in the decision of the Minister of Transport issued in 2016 on approving the financial plan to combine the cash flow of five VEC-invested expressway projects, the roadmap for toll increase is periodically every 3 years each time increasing by 12 percent.
However, VEC's highway projects have not had their fees increased since they were put into operation. On the contrary, there are times when fees are reduced to support businesses under the Government’s direction.
From 2024, VEC's loan repayment costs will increase continuously while the highways are due for repair and maintenance. Therefore, If the fee remains the same, it will affect the financial plan of the projects.
As per VEC’s proposals for fee increase on four expressways, the Ministry of Transport assigned VEC to review and decide on the time to adjust the toll level of four expressway projects according to its authority after it has completed procedures for adjusting ticket prices in accordance with legal regulations. The news of the fee spike will be published in the media.
Previously, the Ministry of Transport approved fee increases at 41 traffic BOT projects from December 29, 2023. Different vehicle groups will see various increases ranging from 11 percent to 18 percent. In particular, fees of the vehicle group 1 increased from VND35,000 to VND41,000 while drivers of the vehicle group 2 paid from VND50,000 to VND59,000, drivers of the vehicle group 3 and the group 4 paid from VND75,000 to VND87,000 and from VND120,000 to VND140,000 respectively. Their peers of the vehicle group 5 paid from VND180,000 up to VND200,000.
With the highway project that collects tolls per kilometer, the Phap Van - Cau Gie Expressway in Hanoi has an average toll increase of 18 percent while the Hanoi - Hai Phong Expressway fees increased by nearly 5 percent to nearly 20 percent according to vehicle groups.
