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MIGA’s goal is to promote foreign direct investment into developing countries to support economic growth and more.

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Explore global projects that support economic growth, reduce poverty and improves people’s lives.

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Learn about the progress MIGA is making in its mission to support economic growth, reduce poverty and improve people’s lives.

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World Bank building

MIGA’s goal is to promote foreign direct investment into developing countries to support economic growth and more.

Our Impact Dropdown Description

Hands husking peas into a basket full of peas

Learn about the progress MIGA is making in its mission to support economic growth, reduce poverty and improve people’s lives.

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Explore different types of political risk insurance guarantees provided to investors and lenders.

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Hyundai building

Explore global projects that support economic growth, reduce poverty and improves people’s lives.

Viet Nam

Vung Tau Energy Company Limited

$36 million
Power
Project Brief
Not Active
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MIGA insurance totaling $36 million covers an equity investment by Wärtsilä Vietnam Power Investments Limited in a build, operate and transfer (BOT) power project in Vung Tau Province, south-east of Ho Chi Minh City. MIGA coverage is issued against the risks of transfer restriction, expropriation, and war and civil disturbance.

The project involves the construction and operation of a 120 megawatt fuel-fired power plant. It will be the first independent power project to be completed in Vietnam after the establishment of the BOT regulations in 1994. The project will create a much needed increase in southern Vietnam's generating capacity.

Wärtsilä Vietnam, incorporated in the Cayman Islands, is a wholly owned subsidiary of Wärtsilä NSD Corporation of Finland, a leading designer and manufacturer of medium-speed diesel engines for power generation. The project enterprise will benefit from substantial transfer of technology from Wärtsilä's international affiliates, and some local businesses will provide engineering, project management, and design-review contractors for the project. Extensive training programs will be provided to local staff to develop their technical and managerial skills.

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