According to market researchers, Grab has maintained its position as the largest player however, Vietnamese companies such as Xanh SM and Be have also grabbed market share.
Be – a new player in Viet Nam’s ride hailing market that made its debut on Thurday morning – aims to have 6.6 million downloads and 105 million rides in the first year of operation.
Following Uber’s departure from Viet Nam, the country’s ride-hailing market has witnessed the entrance of both domestic and international applications, such as Aber, FastGo, Go-Viet and VATO.
Indonesia''s ride-hailing start-up Go-Jek announced on Thursday that it will invest about US$500 million to move into four new markets in the next four months - Singapore, Vietnam, Thailand and the Philippines.
After Uber’s departure from Viet Nam’s ride hailing market, a newcomer named Mass Vehicle Ledger Foundation Pte. Ltd (MVLchain) has made its move to enter the country’s Grab-dominated ride industry.
After Grab’s takeover of Uber on March 26, some Vietnamese transport businesses are taking advantage of an opportunity to invest in the lucrative ride-hailing market.