FastGo Viet Nam signed a memorandum of understanding with Asia Sun Group on Wednesday in Ha Noi to launch its ride-hailing app in Myanmar next month.

According to FastGo’s plan to expand its operation to the Southeast Asian region, the company chose Myanmar and Indonesia as its two first overseas markets. Instead of self-deploying services in foreign countries, FastGo will operate with local partners whose financial strength, market intelligence and service ecosystems can provide support.

Speaking at the signing ceremony, FastGo Viet Nam’s general director Nguyen Huu Tuat said Myanmar’s market has the potential to see rapid growth in the upcoming time, making it a suitable destination for expansion. Asia Sun Group has been one of big groups in Myanmar in different sectors.

“We have a common vision and development strategy,” Tuat said. “FastGo would contribute to the electronic service sector and to promoting the private economic sector in Myanmar.”

Win Kaw, Asia Sun Group’s chairman, said they were impressed with the rapid development of FastGo Viet Nam.

“With FastGo’s technological advantages, innovation and service ecosystem in combination with Asia Sun Group’s deep knowledge of the Myanmar market, we believe that co-operation will bring success to FastGo and add value for customers in our country,” he said.

Launched in June 2018, Vietnamese ride-hailing app FastGo has a presence in Ha Noi, HCM City, Da Nang, Binh Duong and Dong Nai.

It planned to launch the service in Nha Trang and Quang Ninh on November 23.

FastGo offers FastCar, FastTaxi and FastBike. — VNS