According to a statement on March 24, the IFC 's investment will finance the company's expenditure in the electronic toll collection (ETC) business and its growth into other vehicle-related added services segments, such as parking fees.

VETC is the leading ETC operator in Vietnam. Founded in 2015, VETC operates ETC systems on tolled roads and expressways across Vietnam under long-term contracts with road operators. The company manages 126 toll plazas and nearly 700 toll lanes nationally, servicing over 3.8 million cars.

IFC's investment will facilitate the company's expansion in road infrastructure (13 new expressways by 2025 and 52 new toll roads by 2030). Expanding ETC services across the country will reduce logistics costs for drivers and improve urban mobility by alleviating traffic congestion and improving road safety, and enforcing payment collection and transparency.

Digital collection mechanisms will similarly reduce operating costs for service providers who manage urban transportation infrastructure, such as toll operators, gas stations, car parks, and airport entrances. Reduced will translate into greenhouse gas emissions, offering environmental benefits.

The wider availability of ETC services will improve inter- and intra-city mobility and serve as a signal for the efficiency of road infrastructure in Vietnam. These benefits and reduced costs of logistics will benefit commercial and passenger users, according to IFC.

Furthermore, digitally managed payment collection/enforcement mechanisms for new urban transport infrastructure can facilitate the regular maintenance, upgrade, and expansion of services by improving financial sustainability and attract interest from private operators.

VETC is a wholly owned subsidiary of TASCO JSC. Established in 1999, TASCO is listed on the Hanoi Stock Exchange with a market cap of approximately $570 million as of March 17.