In order to build a highway, the capital mobilized for investment is very large. In addition to the clean ground, the State must support from 30% -50% of investment cost.
As for the Ha Noi – Hai Phong highway project, due to budget constraints, the State decided the pilot mechanism: assigned to Vietnam Infrastructure Development and Financial Investment Corporation (VIDIFI) ) to collect fees at two toll stations of National Highway 5 to generate a return on highway investment.
Highlight Hanoi – Hai Phong
Reopening the profile of investment policy of the project highway Ha Noi – Hai Phong, VietnamFinance correspondent known, from 2004-2005, Highway 5 has been full load, frequent congestion, time The journey takes from 3-4 hours for a distance of 100 km from Hanoi to Haiphong, not meeting the increasing demand for transportation. The need is to build a highway linking the capital Hanoi and the port city of Hai Phong.
Therefore, the Government has decided to assign the Vietnam Development Bank (VDB) – a policy bank of the Government, not for profit purposes – to assume the prime responsibility for investment in the highway Ha Noi – Hai Phong (in Decision 1621 / QD-TTg dated November 29, 2007). VDB has set up the Vietnam Infrastructure Development and Financial Investment Corporation (VIDIFI) and is assigned by the Prime Minister to be the investor of the Ha Noi – Hai Phong Expressway Project. .
In order to build a highway, the capital mobilized for investment is very large. In addition to the clean ground, the State must support from 30% -50% of investment cost (similar to PPP The government is calling for investment in the North-South Expressway project. As for the Hanoi-Hai Phong Expressway Project, due to budget constraints, there was not enough capital to participate in the first part of the PPP implementation. Therefore, the State decided to implement the first Ha Noi – Hai Phong Expressway under the pilot mechanism: assigned VIDIFI to collect fees at two toll stations of National Highway 5 to create a source of investment capital for the expressway (this is the form of support, by the state budget into the project with funding from the state budget.
Thanks to this policy, in the condition of limited state budget, the Hanoi-Hai Phong expressway has been implemented and has been in operation for nearly 3 years (from December 2015) .
Traffic time on the expressway from Hanoi to Hai Phong is only 1 hour (2.5 hours less than on National Highway 5) and if traveling on National Highway 5 (after about 50% of traffic flow go to the highway) time to 2 hours (down 1.5 hours).
Collecting old highway 5 to compensate for capital contribution
Since there was not enough capital to participate in the early part of the state capital invested in the project of highway Ha Noi – Hai Phong, the Prime Minister decided to allocate VIDIFI charges at two stations of Highway 5 Highway investment recovery in Decision 1621 / QD-TTg dated November 29, 2007, before the policy of road maintenance fees and establishment of road maintenance fund (2012).
As a result, due to insufficient funds for repairing Highway 5, the Ministry of Transport (MOT) has reported to the Prime Minister to communicate to VIDIFI management, maintenance and repair. Highway 5 from 2016.
Specifically, after 18 years of exploitation, the deadline but Highway 5 has not been overhauled, so the repair has now seriously degraded, if not repair will not be able to continue to exploit. As a result, the Vietnam Road Administration has petitioned the Ministry of Transport to report to the Prime Minister for permission to repair the National Highway No. 5 with an amount of about VND2,000-3,000 billion, divided into two phases, of which 1, about VND 840 billion will be repaired for urgent repair about 30 km of the section through Hai Duong province, which has been seriously damaged (the repair project is scheduled to be completed in 2019).
Phase 2 will be from VND1,200 – 2,000 billion (depending on the feasibility of the financial plan, it will report to the Prime Minister for decision) to repair about 70km of the remaining sections of National Highway 5.
Mr. Tran Anh Tu, Deputy General Director of VIDIFI said: According to calculation, the total maintenance and maintenance of Highway 5 according to the State regulations in 30 years with a total amount of about VND10,526 billion. At the same time, it is necessary to transfer more than VND 500 billion to the National Road No 5 Rehabilitation and Rehabilitation Project to be implemented by the Ministry of Transport from 2013 to 2016. Thus, have to pay fees in more than 12 years to cover the cost of repairs and maintenance of national highway 5 as mentioned above.
VIDIFI has reduced the fee level at 2 toll stations of National Highway 5 from the end of 2016 and continue to implement fee exemptions for means of people, units and organizations adjacent to 2 receiving stations National Highway 5 from August 1, 2018.
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