MoT and MoF agree on method for deciding tolls on BOT roads.
Deputy Minister of Transport Nguyen Hong Truong has confirmed that the Ministry of Transport (MoT) and the Ministry of Finance (MoF) have agreed on a basic method on determining tolls at build-operate-transfer (BOT) roads.
“Tolls will be appropriate to people’s income and the need to recoup funds by BOT investors,” Mr. Truong said. “Only by making the return favorable can we encourage BOT investors to invest and banks to lend money while making tolls acceptable among the public.”
One BOT road recently increased its toll as the time had come under its schedule, Mr. Truong said. “The MoT notes that the increase is in accordance with the BOT schedule signed by competent State agencies and the investor to ensure loan repayments can be made,” he explained.
The MoF recently adjusted all tolls on BOT roads to the same amount - VND35,000 ($1.57) per vehicle. According to Mr. Truong, the increase from VND20,000 ($0.9) was suitable with existing incomes.
Other roads have tolls higher than VND35,000 because authorities decided to combine all tolls into one, negating the need for drivers to stop at all toll booths.
It created some problems, however, as many drivers became confused about paying a higher toll when only traveling along one toll road. The Ministry of Transport resolved the problem by deciding to issue monthly tickets, quarterly tickets, and yearly tickets.