Starting at 0:00 today (December 29th), 41 BOT road projects (including 47 toll stations) will implement fare adjustments as directed by the Ministry of Transport .
Explaining the increase in toll fees for BOT projects, a representative of the Vietnam Road Administration said that BOT projects managed by the Ministry of Transport were mainly put into operation before 2016. According to the BOT project contract, the toll fee adjustment cycle is every 3 years (with an increase of 6% per year). Although BOT projects were due for toll increases between 2019 and 2022, some projects have gone through two cycles without a price increase, affecting the financial plan and the project's ability to recoup its investment.
According to the Vietnam Road Administration, with the increase in toll fees at BOT toll stations , transportation costs on BOT routes will increase by approximately 0.2-1.4%, and this adjustment is expected to have an insignificant impact on the consumer price index (CPI). This price adjustment estimates that cumulative revenue from the beginning of the project to the end of 2025 will reach over 75% of the revenue target outlined in the financial plan of the PPP project contract.
According to the leaders of the BOT toll station management units, this price adjustment will not disrupt ticket sales and toll collection. For vehicles that have already purchased monthly or quarterly passes, they will continue to use them at the original price until their validity expires. New passes purchased after the price increase will be charged at the new price.
Currently, the Ministry of Transport manages 54 BOT projects; in 2022, only 7 projects achieved revenue higher than the contracted amount, 43 projects achieved 30-100%, and 4 projects achieved less than 30%. In early December, the Ministry of Transport approved the adjustment of toll fees at BOT projects as proposed by the Vietnam Road Administration, and simultaneously requested project enterprises to check and review the list of vehicle owners eligible for toll exemptions and reductions, complete the adjustment procedures, and publicly announce the changes.
According to Minister of Transport Nguyen Van Thang, BOT contracts and the PPP Law stipulate that when a BOT project exceeds 125% of its projected revenue, the investor must share the surplus with the State. Conversely, if revenue falls below 75% of the projected amount, the State must share the risk. "When revenue is too low, the State must buy it back. This is a clause and condition in the contract, not a special privilege or advantage granted to the enterprise by the State," Minister Nguyen Van Thang further explained.
(NDO)
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