HANOI: Ride-hailing firm Grab announced on Wednesday it will invest US$500 million in Vietnam over the next five years to expand its services in the Southeast Asian country.
"The country's rapidly developing economy and emerging middle class population makes it ripe for the adoption of digital services," he said. Like Indonesia, many middle-class and young consumers in Vietnam are using apps and websites to access services, Mr Maa said.Vietnam ranks third or fourth among Grab's top markets, said Mr Maa, who joined the company three years ago from its major investor, Japan's Softbank Group, and a previous decade-long stint at investment bank Goldman Sachs.
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Ride-hailing firm Grab says to invest $500 million in Vietnam over next five yearsRide-hailing firm Grab announced on Wednesday it will invest $500 million in Vietnam over the next five years to expand its services in the Southeast Asian country. The company will expand its transport, food and payments networks in the country, Grab said in a statement. 'This investment is a
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