The Ministry of Transport has agreed to increase tolls on four expressways by 5-12 per cent from February 1.

The increases come under a proposal from the Vietnam Expressway Corporation (VEC), which manages the four expressways.

Under the proposal, tolls will be increased on the Cau Gie - Ninh Binh, Noi Bai - Lao Cai, Da Nang - Quang Ngai, and Ho Chi Minh City - Long Thanh - Dau Giay Expressways.

According to VEC, the roadmap for increasing tolls is every three years for expressways in which it has invested, with each increase being 12 per cent. However, tolls on these expressways have not been increased since being put into operation.

On the contrary, tolls were actually cut to help businesses following a government direction.

From 2024, VEC’s loan repayments will increase and its expressways are due for repairs and maintenance. If tolls remains unchanged, it would affect its financial plan for projects.