25.6 C
Ho Chi Minh City
Friday, June 21, 2024

Toll fees of 41 BOT road projects rise from Dec 29

By Nguyen Tan

Must read

HCMC – The Ministry of Transport has approved the upward adjustment of toll fees of 41 build-operation-transfer (BOT) road projects, resulting in toll hikes at 47 tollgates, with effect from December 29, 2023.

This decision follows the prior requests made by the Department for Roads of Vietnam and the investors behind the BOT projects.

According to the Department for Roads of Vietnam, these BOT projects have been operational since 2016 and were scheduled for periodic toll fee increases between 2019 and 2022. However, delays in implementing these toll fee hikes in recent years have had adverse effects on the financial capabilities and capital recovery of project owners.

As per the signed BOT contracts, toll fees are subject to revision every three years, with an annual increase of 6%, as stated by the department.

In order to implement these toll fee adjustments seamlessly, the Department for Roads of Vietnam will collaborate closely with project owners to work out the specifics of the fee increases, timing of fee revisions, and the tollgates where these changes will apply, ensuring full compliance with the provided price ceiling and current regulations.

To support businesses, the Government has directed the Ministry of Transport to refrain from raising toll fees periodically since 2019.

More articles


Please enter your comment!
Please enter your name here

Latest articles