IFC – a member of the World Bank Group – invests VND 500 billion in VETC to accelerate smart transportation infrastructure in Vietnam. The investment is structured as a 5-year convertible bond with a 5% coupon rate in VND.
Through this partnership, both parties aim to fast-track VETC’s ongoing smart transportation projects while leveraging IFC’s global network to elevate product, service, and environmental standards. VETC is currently researching and developing new services, including: ETC-integrated parking solutions; ETC emergency rescue services; Airport and seaport tolling and management; Digital fuel payments; Payment gateways for public transportation services, such as road maintenance fees, GPS tracking management, traffic fine payments, and other market-driven services as permitted by regulations.
As a member of Tasco, VETC is the leading ETC (Electronic Toll Collection) operator in Vietnam, holding a 75% market share. The company operates 133 toll stations and 719 non-stop lanes, serving over 3.8 million customers and processing an average of 1.8 to 2.3 million transactions daily (approximately 700 million transactions per year).
About IFC: A member of the World Bank Group, IFC is the largest global development institution focused on the private sector in emerging markets. Operating in more than 100 countries, IFC utilizes its capital, expertise, and influence to create markets and opportunities in developing nations. In fiscal year 2024, IFC committed a record $56 billion to private companies and financial institutions in developing countries, leveraging private sector solutions and mobilizing private capital to build a world free of poverty on a livable planet.
