An investor’s proposal that it closes an expressway because it is not allowed to collect toll has been rejected by the Ministry of Transport. The Hoa Lac - Hoa Binh expressway opened in October 2018 - Photo by VnExpress The National Route 6 Hoa Lac – Hoa Binh Ltd, which built the expressway connecting the Hoa Lac area in southern Hanoi with northern Hoa Binh Province, had said that it would stop allowing vehicles to run on the road starting April 15. It had built the road under the BOT (build-operate-transfer) model, but has not been allowed to collect tolls from vehicles using the road since it opened in October 10 last year. Tolls should have been applied since November 1 as stated in the contract, but as the company hasn’t received permission to collect the tolls, it has missed out on VND28.9 billion ($1.24 million) in collection, as of February. The Ministry of Transport said that the reason the investor has not been allowed to collect tolls is that it … [Read more...] about Ministry of Transport rejects investor’s proposal to close expressway
Ministry of transport
The Ministry of Transport’s role in BOT toll collection
Lê Đình Thọ.— Photo tienphong.vn Lê Đình Thọ, Deputy Minister of Transport, speaks to Tiền Phong (Vanguard) newspaper on his ministry’s role in ensuring all BOT projects fulfill their assigned missions How do you respond to complaints about the cumbersome administrative procedures in toll booths on BOT roads nationwide? Manual toll booths have a lot of weaknesses, including being time consuming and contributing to traffic jams and air pollution. Furthermore, manual toll collection may also lead to a lack of transparency and high operating costs. Toll collection in all BOT projects is been supervised by four agencies – the banks, the investors, the tax office and the State-authorised agency. The Ministry of Transport considers monitoring the operation of these BOT projects one of its key missions. As a result, the Ministry has assigned the Directorate for Roads of Việt Nam (DRVN) to monitor all activities of … [Read more...] about The Ministry of Transport’s role in BOT toll collection
Ministry of Transport to offload 18 per cent of Viglacera
The Ministry of Transport (MOT) will sell 80.58 million shares of Viglacera Corporation, equivalent to 17.97 per cent of the company’s charter capital, in its upcoming State capital divestment this year. According to the divestment plan, which was recently approved by the ministry, the shares will be auctioned on the stock exchange. The minimum bidding price will not be lower than VND23,000 (US$0.99) per share or the average price of Viglacera in the 30 consecutive sessions before the announcement of the auction. At this price, the deal is valued at more than VND1.85 trillion ($79.5 million). After the sale, the ministry still holds 161.4 million shares of Viglacera, or 36 per cent of its capital, and retains the veto power at the company. Shares of Viglacera, coded VGC on the Ha Noi Stock Exchange, gained 25 per cent this year, from VND17,400 per share to VND21,800 apiece on Tuesday. However, this price is still lower than the starting price for the auction. The price jump was … [Read more...] about Ministry of Transport to offload 18 per cent of Viglacera
Ministry of Transport proposes to manage ride hailing apps as taxis
Entire under nine-seat cars operating under the ride-hailing application may be managed as taxi operators, according to newswire Bizlive.vn. Ministry of Transport proposes to manage ride-hailing app as taxi (Source:Bizlive.vn) The Ministry of Transport (MoT) has submitted its opinion requested by the government on the draft decree on business and conditions for transportation business by automobile. According to the MoT, the pilot programme on using technology applications for private transportation with the participant of Grab, VATO, Go-Viet, and FastGo contributed to increasing the use of science-technology to innovate the transport sector. During the pilot period, the MoT saw that Grab and other ride-hailing firms’ operations were similar to traditional taxi operators. Notably, both ride-hailing service providers and traditional taxi operators have the same target customers and ordering method, and they are all operating in cites. The MoT also affirmed that the … [Read more...] about Ministry of Transport proposes to manage ride hailing apps as taxis
Ministry of Transport to accelerate North-South Expressway project
The Ministry of Transport plans to rush the implementation of the North-South expressway project in 2019, said Minister of Transport Nguyễn Văn Thể.— Photo vietnamfinance.vn HÀ NỘI — The Ministry of Transport plans to rush the implementation of the North-South expressway project in 2019, said Minister of Transport Nguyễn Văn Thể. He said the ministry had approved a feasibility study of 11 sub-projects of the North-South expressway project since October last year and was in the process of selecting consultation firms. “The ministry will manage to disburse half of VNĐ14 trillion ($602 million) raised from bond issuance this year for land clearance work and finish acquisition of all required lands by next year,” Thể told Tuổi Trẻ (Youth) newspaper. The Ministry of Transport (MoT) had opened bidding for the Cao Bồ-Mai Sơn and Cam Lộ-Sơn La stretches. The contractors … [Read more...] about Ministry of Transport to accelerate North-South Expressway project
Ministry of Transport warns over sea dyke proposal
Viet Nam News HCM CITY — The Ministry of Transport said that building a sea dyke connecting the coastal regions of Bà Rịa-Vũng Tàu and Tiền Giang Province would disrupt the planning of seaports, inland waterways and coastal transport. Experts have opposed the Gò Công-Vũng Tàu sea dyke, initially proposed by the Ministry of Agriculture and Rural Development, because of its environmental and economic impact. According to the transport ministry, the project will seriously affect sea transport, inland waterway transport, and import and export of goods in the region as well as international transshipment. Meanwhile, the investment of the sea dyke has not been effective, the ministry said, adding that the land fund for the Build-Transfer (BT) project has not been identified. According to the ministry, the sea dyke would have only small economic benefits in agriculture and aquaculture, and could cause severe losses to the economy and … [Read more...] about Ministry of Transport warns over sea dyke proposal
Ministry of Transport registers to buy 164.7 million shares of Vietnam Airlines
The transaction will be made on July 30-31 when the share issue is completed. — Photo vneconomictimes.vnViet Nam News HÀ NỘI — The Ministry of Transport (MoT) has registered to buy 164.73 million shares of Vietnam Airlines, a move which will maintain its holding in the national flag carrier at 86.16 per cent. This is part of Vietnam Airlines’ additional share issue of 191.19 million shares, equivalent to nearly 15.58 per cent of its capital, to existing shareholders at the price of VNĐ10,000 per share. The transaction will be made on July 30-31 when the share issue is completed. According to the Viet Capital Securities Company, the Ministry of Transport will pay Vietnam Airlines VNĐ578.4 billion in cash to buy 57.8 million new shares, while the remaining 106.9 million shares will be financed by the corporate reorganisation fund on the balance sheet of Vietnam Airlines which is owned by the ministry. Earlier, MoT registered to sell 371.53 … [Read more...] about Ministry of Transport registers to buy 164.7 million shares of Vietnam Airlines
Two road projects cancelled by Ministry of Transport
The Ministry of Transport has decided to cancel two national highway projects, including the projects on upgrade work to the Chợ Mới-Bắc Kạn National Highway and the new National Highway 3 (Hà Nội – Thái Nguyên).– Photo vov.vn HÀ NỘI – The Ministry of Transport has decided to cancel two national highway projects. The projects include upgrade work to the Chợ Mới-Bắc Kạn National Highway and the new National Highway 3 (Hà Nội – Thái Nguyên). The cancellation of the Chợ Mới-Bắc Kạn National Highway, invested under the build-operate-transfer (BOT) model, was due to problems in financial mobilisation, loan interest payments and maintenance. The Chợ Mới-Bắc Kạn stretch was intended to be part of National Highway 3. The Ministry of Planning and Investment had asked the Ministry of Transport to explain why the … [Read more...] about Two road projects cancelled by Ministry of Transport
Ministries of Transport, Agriculture and Rural Development launch administrative procedure reform
Illustration photo The aviation sector takes the lead with the proportion of simplified conditions up to 74.36%. It was followed by railways 73.08%, roads 68.5%, waterways 67.34%, shipping 65.08%, motor vehicle registration 61.43% and multimodal transport service and carriage of dangerous goods 61.74%. The simplification of administrative procedures is aimed to tackle barriers and difficulties for businesses. The Ministry of Agriculture and Rural Development (MARD) has planned to eliminate and simplify 241 business investment conditions among 345 ones, equal to 69.8%, said head of Legislation Department Nguyen Thi Kim Anh. The information was released at a conference on reviewing business and investment conditions in agriculture on April 18 in Ha Noi. These up-coming eliminated and simplified conditions focus on such areas as veterinary, animal feed, plant protection and quarantine, quality control and genetically modified products. In the upcoming time, the ministry will gather … [Read more...] about Ministries of Transport, Agriculture and Rural Development launch administrative procedure reform
USD24 million to support the development of transport projects in Vietnam
“Australia has a long history of supporting development of the transport sector in Vietnam. Starting with the original “Friendship bridge” at My Thuan in 2001, the first cable stayed bridge in Vietnam, and now with the Cao Lanh bridge, which we expect will open in the coming months”, said Mr Craig Chittick, Australian Ambassador to Vietnam, It marks a new era in Australia’s assistance by working with Vietnam to ensure its bankable projects attract international finance and make it to implementation more quickly.Mr Nguyen Van The, Minister of Transport (left) and Mr Craig Chittick Australian Ambassador to Vietnam at the signing ceremony of the agreement to launch Aus4Transport in Vietnam. (Photo: Australian Embassy Hanoi)Aus4Transport, a great example of Australia’s economic partnership with Vietnam in action, will provide funding and expertise to develop new transport projects from the concept stage, up to the start of construction. Besides, it … [Read more...] about USD24 million to support the development of transport projects in Vietnam