Alejandro Osorio, managing director of Grab Vietnam. -- Photo Courtesy of Grab Vietnam

Grab has been a key player in the Việt Nam ride-hailing market for 10 years. On the occasion of its 10th anniversary in the country, Việt Nam News correspondent Thu Ngan speaks with Alejandro Osorio, managing director of Grab Vietnam, about the company’s competitiveness and its plans for the future.

What do you think are Grab’s achievements in its 10 years in Viet Nam?

We have more users and partners on our platform than at any point in our history, so I can proudly say that Grab is now stronger than ever.

Ten years ago, our services were limited. Today, our platform serves tens of millions of meals and rides every month, to millions of consumers across Viet Nam - with more than 15 offerings that cater to all budgets, while consistently delivering quality and reliable experiences. These achievements are strong representations of what we've achieved, together with our partners.

In the last decade, millions of people in Viet Nam have used Grab to supplement their income.

Seeing numerous driver partners utilising Grab services on the streets is one of testaments to our success. Therefore, our key achievement has been this widespread adoption.

This also signifies the trust and connection we have established in the community. Moreover, it's about the impact this digital adoption generates, not only benefitting our partners but also extending to the broader community.

I believe this is truly our greatest achievement.

We have continued to expand our services sustainably. We have services in 50 cities nationwide, serving millions of partners and users. In terms of market share, we can confidently state that we are the preferred platform for mobility and food delivery services, making us the market leader.

Our mission is to unlock more benefits of the digital economy for every Vietnamese. This can only be achieved by extending our reach further into the outer cities to serve more local people.

Grab serves tens of millions of meals and rides every month, to millions of consumers across Việt Nam. -- Photo Courtesy of Grab Vietnam

The ride-hailing market in Viet Nam is highly competitive, with many players exiting the market. What are your company's advantages that enable it to thrive in the country and sustain its position as a leading player?

Competition is beneficial as it fosters learning among competitors and drives us to provide the best possible experience in a fiercely competitive landscape. Consequently, various brands and platforms will continue to emerge and evolve with time. So naturally there will always be different brands and platforms that come and go.

For us as a platform, we have cultivated several key advantages for ourselves.

Firstly, we have always maintained a hyper-local approach, deeply embedded in Vietnamese daily life and culture, enabling us to comprehend evolving user needs timely and accurately.

This allows us to develop solutions that are tailoured to user requirements.

Secondly, I take pride in the talented team we have nurtured at Grab.

Our team, from the leadership down to all levels, comprises some of the top talents in Viet Nam. They are driven by our mission and motivated by the positive impact we can create. This alignment of talent and mission purpose is instrumental in driving success for our partners and providing benefits for our users.

Thirdly, our app ecosystem is a key to success. One distinct advantage is that we have so many different use cases that are accessible at any point in a given day and daily life. That there are always reasons for users to come back to Grab.

We see that with frequency building up over time. This leads to increased user activity over time and is challenging for other platforms to replicate due to the complexity and unique synergies of integrating different services.

For example, you don't just launch GrabFood. You have to build it on the foundations of GrabBike.

Lastly, our operational excellence sets us apart. We are committed to maximizing the efficiencies in platform operations, scaling effectively, and delivering technological innovations.

And that gives us, again, distinct advantages to ensure that we don't have to continuously add more and more subsidies to the market. Consequently, we can offer affordability options to our users while ensuring productivity for our partners as well.

A Grab driver at work. Viet Nam is a key market for Grab in the past 10 years and in the future. -- Photo Courtesy of Grab Vietnam

What are your plans to expand in the country in the coming years?

As we look forward, given our expanded scale and reach as a digital platform, along with our the significant relevance to Vietnamese daily life, we now have increased opportunities to further diversify and advance the adoption of digital services.

Our vision is to ensure that every Vietnamese can access the benefits of the digital economy, leaving no one behind. To achieve this vision, we have outlined three core pillars.

Firstly, our focus is on people, a pivotal element in socio-economic progress. Our goal is to cater to a broader range of services to serve more Vietnamese people in more places. We will also find ways to empower more MSMEs and individuals through our digital platform so that they can increase their earning opportunities, and improve digital literacy for our partners and communities.

Secondly, we aim to promote inclusivity and seamless interconnectedness in our cities, aligning with the evolving infrastructure developments not only in urban centres but also in smaller cities nationwide, as well as contribute our part in creating the efficient road systems and sustainability.

Lastly, innovation is at the heart of our operations. We will continue leveraging our scale and access to develop cutting-edge technological solutions, along with our deep integration into Vietnamese daily life, and enhance R&D capabilities within Viet Nam.

Our ongoing expansion of the R&D center enhances our responsiveness to market needs, empowering our tech teams with better insights.

Viet Nam has always been a key market for Grab. Over the past decade we have identified significant untapped opportunities to leverage the benefits of our digital platforms. Looking ahead we see immense growth potential in Viet Nam, making it a strategic focus market for our future endeavors. – VNS