Singapore-based Grab poised to launch its newest expansion in Vietnam


Singapore-based Grab Poised to Launch its Newest Expansion in Vietnam

After announcing its plan to launch in Indonesia worth $2 billion two weeks ago, the top ride firm from Singapore called Grab is now eyeing to invest hundreds of million dollars in Vietnam.

“We’re very excited about Vietnam. We see very similar characteristics to Indonesia,” said Grab President Ming Ma during an interview with Reuters.

Grab continues to evolve from just being a ride firm to offering food delivery and logistics in the South East Asian region.

Last year, Grab tied-up with Vietnamese company Moca to feature a digital wallet. It also partnered with a Japanese credit card company to introduce loan and credit analysis offers to businesses across the region.

Grab is now currently working to build its headquarters in Singapore amounting to $135 million. This year, it aims to target $2 Billion in revenue.

“We’re just at the tip of the iceberg for financial services,” said the company president.


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