The International Finance Corporation (IFC) of the World Bank Group has announced an investment of VND500 billion ($19.2 million) in VETC – the leading operator of electric toll collection (ETC) systems in Vietnam.

The investment will help facilitate VETC’s expansion and modernization of road infrastructure, as well as development of related digital payment services, thus contributing to improving road safety, and enforcing payment collection and transparency.

The investment is made amid the context when Vietnam is accelerating the modernization of the transport infrastructure system with the aim of having 5,000 kilometers of expressways by 2030.

Mr. Nguyen Le Thang, Director General of VETC, said the investment will help the group to speed up the implementation of advanced electric toll collection systems, laying foundation for the development of smarter and greener transport system.