Transport fee cut down due to decreasing fuel prices

According to a World Bank study, Viet Nam’s total transport fees were equivalent to 11.8 percent of the GDP, much higher than the US, which was below 4.5 percent; Singapore, which was 4.8 percent; and Japan, which was 6 percent.

Recently, transport and taxi companies have cut down fees due to the decrease of petrol and oil prices this year. According to Bui Danh Lien, chairman of the Ha Noi Automobile Transport Association, there are approximately 50 taxi companies of total 114 companies in Ha Noi announcing fee cuts, by the range between VND 500 (US$ 3.8 cents) and VND2.000 (US$ 9.8 cent) per kilometer this week.

Several import and export companies have reported that transport fees should be cut by between 15 percent and 20 percent. They believed that reasonable fees will attract more customers.

Le Thi Lai, head of the Price Management Division under the Ministry of Finance, said that the management of transport fee adjustments would be tightened to ensure rights of companies, the State and consumers.

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