HCM City People's Council approved a six-fold increase in car parking fees on roads at a meeting on March 16.

HCM City People's Council approved a six-fold increase in car parking fees

The city authorities will apply the new fees for cars with less than nine seats and trucks weigh less than 1.5 tonnes from June 1. 

The parking fees for the first hour is VND20,000 (88 US cents) to VND25,000. Cars with more than 10 seats and trucks weigh from 1.5 to 2.5 tonnes will have to pay VND25,000 to VND30,000. The highest parking fee for five hours is VND170,000. 

The city will use high technology to manage the parking lots and the cars. Drivers can pay by the phone, credit cards or cash. Those fees are 20% to 25% higher than the fees at office buildings and shopping centres. The parking fees on 35 streets have seen VND30bn (USD1.3m) poured into the city's budget.

HCM City People's Council chairwoman Nguyen Thi Quyet Tam said they would gather opinions from the experts and the public and adjust the plan if necessary. 

HCM City People's Committee Vice Chairman Tran Vinh Tuyen said the plan aimed to better manage the streets while meeting public demand. The city would hold a tendering process to find the best contractor and technology. 

Also at the meeting, the people's council gave the stamp of approval to the environmental protection fee hike to manufacturing and processing factories and 523 medical facilities. It's estimated that the city's annual revenue will increase to VND60bn (USD2.6m).

Dtinews