Grab pours another $500m into Vietnam expansion

Ride-hailer also inked a new partnership with the Sovico Group

20190828 20180912 grab and Go-Viet MAIN

Grab's latest investment in Vietnam will intensify its battle for supremacy with Go-Jek's Vietnam brand Go-Viet. (Photo by Akira Kodaka)

DYLAN LOH, Nikkei staff writer

SINGAPORE -- Ride-hailing giant Grab will pump an extra $500 million into Vietnam over the next five years, as the company expands its transport, food-delivery and payments network across Southeast Asia.

The Singaporean company said the new investment will spur development of Vietnam's digital economy, creating millions of income opportunities for Vietnamese, and will come on top of the $200 million Grab has already committed through to the end of 2019.

Sponsored Content

About Sponsored ContentThis content was commissioned by Nikkei's Global Business Bureau.