Reportedly, Singaporean ride-hailing company Grab is planning to invest “hundreds of million dollars” across Vietnam where the firm sees its next main growth market, just a few weeks after it disclosed a $2 Billion plan in Indonesia. The planned investment is the recent example of a top regional brand extending its commitment to Vietnam, which is one of Asia’s fastest budding economies. It also illustrates the keenness of Grab that has fetched billions of dollars from financiers to put its cash to work. In an interview, Ming Maa—Grab’s President—said to Reuters, “We are extremely excited about Vietnam and see similar attributes as Indonesia.”
Grab along with Indonesian competitor Go-Jek is developing from ride-hailing app operators to turn into integrated shops for services such as food delivery, payments, hotel bookings, and logistics across Southeast Asia. Grab through its app on over 160 Million mobile devices in 8 countries has stated that its Indonesia investment targets to form a latest-generation transport network and change how critical services like healthcare are delivered. Maa said similar to Indonesia, a number of the middle class and young customers in Vietnam are utilizing websites and apps to access services. He added, “I expect us to spend several hundred million dollars for expanding our Vietnam business.”
Recently, Grab was in news for collaborating with WhiteCoat for digital healthcare delivery services in Singapore. The partnership with GrabExpress will offer better healthcare support, facilitating patients to quickly and conveniently receive their recommended medication in 90 Minutes following a consultation with a doctor through WhiteCoat’s mobile app. This partnership significantly decreases the patients’ waiting time for medication delivery from the present average time of 3 Hours. Reportedly, WhiteCoat’s partnership with GrabExpress is aligned with Grab’s vision in backing local tech firms in Singapore.