HCMC – The Vietnam Expressway Corporation (VEC) is planning to raise toll fees on its four expressways this year to secure the viability of its financial strategy and enhance its debt repayment.
VEC has clarified that these fee hikes were approved by the Ministry of Transport in 2021.
According to VEC, the first nine months of this year saw over 45.3 million vehicles using the expressways under its management, a 12.41% increase against the same period last year.
Notably, the Cau Gie-Ninh Binh expressway accommodated the highest number of vehicles, totaling 15.8 million. However, it only recorded 8.5% growth in toll revenue over last year, the lowest among the four expressways.
The HCMC-Long Thanh-Dau Giay Expressway served 15.4 million vehicles, securing the second position in terms of vehicle numbers and registering a 9.65% year-on-year increase in revenue.
In contrast, the Noi Bai-Lao Cai Expressway recorded remarkable revenue growth, surging by 21.43% compared to the previous year, even though the number of vehicles traveling on the route only reached 12.3 million.
The Danang-Quang Ngai Expressway maintained its second position in terms of toll revenue. However, the route saw a modest number of vehicles, with only 1.8 million in the same period.
VEC stated that electronic toll collection (ETC) has improved its efficiency. Nevertheless, inconsistencies have remained in VEC’s operational standards and the existing vehicle weighing system, which affect vehicle control.
VEC recently adjusted toll fees for two groups of vehicles, including group-4 and group-5 trucks, on the Cau Gie-Ninh Binh and HCMC-Long Thanh-Dau Giay expressways, with effect from September 1.
Source: The SaigonTimes