Grab is the leading ride-hailing platform in Southeast Asia.
Grab is the leading ride-hailing platform in Southeast Asia. Image Credit: Supplied

Highlights

  • Southeast Asian ride-hailing giant Grab said Wednesday it will invest $500 million in Vietnam over the next five years to expand its services in the country.

Ride-hailing firm Grab announced on Wednesday it will invest $500 million in Vietnam over the next five years to expand its services in the Southeast Asian country.

The company will expand its transport, food and payments networks in the country, Grab said in a statement.

“This investment is a reflection of our redoubled commitment to Vietnam,” said Russell Cohen, Head of Regional Operations of Grab.

“The country’s rapidly developing economy and emerging middle class population makes it ripe for the adoption of digital services,” he said.