📋 Tender Overview
Project Number
50745
Company Name
VETC Joint Stock Company
Date ESRS Disclosed
Mar 24, 2025
Country
Viet Nam
Region
East Asia and the Pacific
Last Updated Date
Environmental Category
B
Status
Pending Approval
Sector
Highway Operations (Includes Toll Roads)
Industry
Infrastructure
Department
Regional Industry - INF Asia & Pac
Project Description
VETC Joint Stock Company ( VETC or the Company ), established in 2015 by TASCO Joint Stock Company, specializes in investing in and operating the Electronic Toll Collection ( ETC ) systems on tolled roads and expressways in Viet Nam. The proposed transaction is a quasi-equity investment of up to VND 500 billion (US$ 19.8 million) in VETC in the form of convertible bond or convertible loan. The proceeds of the IFC financing will support the company’s expansion in the ETC market and its growth into related vehicle services segments, such as car parking fee collection.
Overview of IFC's Scope of Review
IFC’s scope of environmental and social (E&S) due diligence focused on the company's environmental and social (E&S) management capacity and systems against IFC's Performance Standards (PSs). This assessment included: i) a review of E&S-related documents provided by the company; ii) an evaluation of specific Human Resources (HR) related documentation; iii) appraisal meetings held in February 2025 at the VETC office in Hanoi; and (iv) consultations with VETC management, HR, Operation Management, Maintenance departments and interviews with toll workers.
