Four expressways will increase service fees.

The Noi Bai - Lao Cai, Cau Gie - Ninh Binh, Da Nang - Quang Ngai, and Ho Chi Minh City - Long Thanh - Dau Giay expressways will increase service fees from February 1st.

The Vietnam Expressway Investment and Development Corporation (VEC) has decided to increase tolls on the Cau Gie - Ninh Binh and Da Nang - Quang Ngai expressways from 1,500 VND/km to 1,680 VND/km for standard vehicles (a 12% increase). The toll on the Ho Chi Minh City - Long Thanh - Dau Giay expressway will increase from 2,000 VND/km to 2,100 VND/km (a 5% increase).

Toll fees for the Noi Bai - Lao Cai expressway have increased by 12%. Specifically, the Noi Bai - Yen Bai section (4 lanes) increased from 1,500 VND/km to 1,680 VND/km for standard vehicles; and the Yen Bai - Lao Cai section (2 lanes) increased from 1,000 VND/km to 1,120 VND/km.

VEC will also continue to apply the value-added tax rate of 8% from January 1, 2024 to June 30, 2024, based on Decree No. 94/2023 on regulations on value-added tax reduction policy.

Ho Chi Minh City - Long Thanh - Dau Giay Expressway, the section passing through Thu Duc City, April 2022. Photo: Quynh Tran

The Vietnam Expressway Investment and Development Corporation (VEC) stated that the financial plan for expressway projects under its management includes a schedule of periodic toll increases every three years, each time by 12%. However, tolls have not been increased since the expressway projects were put into operation, and at times have even been reduced to support businesses as directed by the Government.

From 2024 onwards, VEC's road loan repayment costs will continuously increase, while the expressways are due for major and minor repairs. Maintaining the current toll rates will negatively impact the financial viability of the projects.

Previously, the Ministry of Transport agreed to increase tolls on four expressways managed and operated by VEC. The Ministry requested the managing enterprise to inspect, review, and decide on the price levels and adjust the prices of the four expressways within its authority, ensuring they do not exceed the maximum price (2,100 VND/km) and are within the affordability of users, while harmonizing the interests of the state, the people, and the enterprise.

From December 29th, 41 BOT transportation projects with 47 toll stations on various national highways and expressways have also increased fees by 15 to 20%.

Doan Loan

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