Sharing about VIDIFI's recent proposal to increase toll rates on National Highway 5, Mr. Dao Van Chien said that this has not yet received consensus from people and businesses because some sections of this route are rutted. VIDIFI's viewpoint is that the repair must be completed before the fee can be increased.

Regarding the reason for the request to increase the toll fee, according to Mr. Dao Van Chien, VIDIFI's request to increase the toll fee on National Highway 5 is implemented in accordance with the BOT contract for the Hanoi - Hai Phong Expressway Project signed in 2007. According to the financial plan of this project (approved by the Prime Minister last May), VIDIFI is allowed to increase the toll over time like other toll stations (currently the toll fee on National Highway 5 is 10,000 VND/car with less than 9 seats, this fee has been in place for 10 years and has not changed and is the lowest fee nationwide. Meanwhile, road user toll rates on national highways have been adjusted to increase according to the framework prescribed in Circular 159/2013/TT-BTC and increased by 2-3 times compared to the currently collected tolls on National Highway 5.

''Buffalo living'' on Highway 5 passing through Hai Phong. (Photo: Hoang Ngoc/TTXVN)

Another reason for the proposal to increase the toll on National Highway 5, Mr. Dao Van Chien affirmed: "If VIDIFI is not allowed to increase the road toll on National Highway 5, the financial plan of the Hanoi - Hai Phong expressway that has just been approved may go "bankrupt". The proposal to increase the toll is a bit sudden and needs time to propagate to people and businesses to understand and support, but this issue has been raised in the financial plan. If we do not adjust the toll up, it will be the partners. Foreign countries receiving the transfer of the Hanoi - Hai Phong expressway project will be "skeptical" about the feasibility of the financial plan. When the Hanoi - Hai Phong expressway project is transferred to this partner, the investor will arrange and work with capital sponsors to lend the project an expected capital of up to 1 billion USD.

On the other hand, according to the Chairman of the Board of Directors of VIDIFI, the Corporation has tried its best to increase other sources of revenue and ensure toll collection at a reasonable level, but the increase in tolls on National Highway 5 is force majeure in the context of limited state budget and rising public debt, so the budget cannot further support the Hanoi - Hai Phong Expressway Project. Therefore, VIDIFI hopes to receive the sharing of people and businesses, because of the urgency and importance of the project for economic development in the region.

Previously, since 2012, VIDIFI has deducted funding from National Highway 5 toll revenue of nearly 400 billion VND to repay 50% of the investment loan for the National Highway 5 road surface improvement and restoration project to resolve the deterioration of National Highway 5, ensure traffic safety and maintain the ability to exploit the route.

Explaining more about the financial plan of the Hanoi - Hai Phong expressway project, Mr. Dao Van Chien said that in the capital structure for this project, VIDIFI receives direct support from the budget of 23%; Revenue from development projects is 16% and has the right to collect tolls on National Highway 5 according to the rates in Circular No. 159.

According to the approved financial plan, it is expected that from January 1, 2016, the Ministry of Transport will transfer National Highway 5 to VIDIFI for management, then VIDIFI will be responsible for repairing and maintaining this route with funds collected from toll stations.

The Hanoi-Hai Phong expressway project has a total length of 105.5km passing through Hanoi, Hung Yen, Hai Duong and Hai Phong. According to assessments, this will be an important traffic axis connecting Hanoi Capital with Hai Phong City and Ha Long City (Quang Ninh), connecting the Northern key economic region with the largest seaport cluster in the North, Lach Huyen International Gateway Port (Hai Phong) to promote the development of the Northern key economic region. When completed, in addition to reducing the load on National Highway 5, the Project, along with other highways, will form a northern highway network, shortening travel time between localities, contributing to reducing traffic accidents, reducing costs and transportation time...

Source (TTXVN)