IFC invests 500 billion VND in VETC to develop smart transport infrastructure

IFC - a member of the World Bank Group has decided to invest VND500 billion in VETC Automatic Toll Collection Company Limited to promote the development of smart transport infrastructure in Vietnam. The investment is made through the form of 5-year convertible bonds, with a coupon rate in VND of 5%.

With this cooperation, the two sides expect to accelerate the smart transportation projects that VETC is pursuing, strengthen international connections through the support of IFC to improve standards of products, services, and the environment. VETC is researching and will develop new services such as: Non-stop toll collection parking lot; ETC rescue; airport-seaport toll collection and management...

Applying ETC fees can help Vietnam reduce emissions and save energy, bringing billions of dollars in benefits to the economy .

In addition, VETC also researches and develops fuel payment services; connection and payment portals for public services for transportation such as road maintenance fees, journey monitoring management, fines and some other services when permitted and according to market demand...

Applying ETC fees can help Vietnam reduce emissions and save energy, bringing billions of dollars in benefits to the economy.

As a member of Tasco, VETC is currently the largest operator of the ETC automatic toll collection system in Vietnam, accounting for 75% of the market share with 133 toll stations and 719 non-stop toll lanes, serving more than 3.8 million customers and processing an average of 1.8 to 2.3 million transactions per day, equivalent to about 700 million transactions per year.

IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. IFC operates in more than 100 countries, using its capital, expertise, and influence to create markets and opportunities in developing countries.

In fiscal year 2024, IFC has committed a record $56 billion in financing 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.

According to Nhan Dan

Source: https://baobacninhtv.vn/ifc-dau-tu-500-ty-dong-vao-vetc-phat-trien-ha-tang-giao-thong-thong-minh-postid422595.bbg