Friday, 16 Nov 2018
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ECONOMY

Ride-hailing Grab fears no competitors: Co-founder

Updated at Wednesday, 12 Sep 2018, 14:56
The Hanoitimes - Vietnam`s ride-hailing market with high dynamism has been growing at a rapid rate, for which plans should be made in month and not year, said Tan Hooi Ling, Grab`s co-founder
Only by competing with others can Grab improve and serve customers better, stated Ling as cited by VnExpress.
 
Illustrative photo.
Illustrative photo.
Vietnam's ride-hailing market with high dynamism has been growing at a rapid rate, for which plans should be made in month and not year, said Ling in a meeting with the press on September 11. 

For evidence, right after Grab confirmed its acquisition of Uber's Southeast Asia operations, Vietnam has witnessed the introduction of nine ride-hailing firms. 

Ling expected the number to grow. However, the most important thing for Grab would be what the customers think, and the company will continue investing to ensure things stay as it is, stated Ling.

Meanwhile, Jerry Lim, CEO of Grab Vietnam, said new competitors are investing heavily but they have not paid sufficient attention to ensuring safety for customers. Grab is the first company having insurance for both driver and customer in each trip, he informed. 

According to Lim, Grab will also provide insurance for its delivery services. In the coming time, Grab will introduce new functions to ensure customer's safety and provide self-defense training for driver, Lim continued. 

However, Grab's competitors are not only ride-hailing firms, but also traditional taxi companies. According to Lim, Grab is working with the Vietnamese government to reduce the latter's business conditions, for which Grab can cooperate with taxi companies in the future. 

Lim stressed his belief that the revised version of Decree No.86 will narrow the conflict between the difference between ride-hailing firms and traditional taxi companies.

Recently, Grab has made a strategic investment in Vietnamese mobile payment startup Moca, aiming to further strengthen its grip in the digital payment sector in the region. 

With regard to the acquisition of Uber's operation in Southeast Asia, Grab's co-founder Ling considered it's a turning point for Grab, while stating that the its success story did not depend on having large fund. 

Ling pointed to the fact the Grab currently employs many local talents and also invest heavily in technology, which are more important than having large fund.

Grab currently has 175,000 driving partners in Vietnam. According to Jerry Lim, two out of every 10 Vietnamese customers use Grab services, which is expected to increase to 5 out of 10 by 2020. 

Nguyen Tuan Anh, CEO of Grab Financial Group Vietnam, hoped the government should be more open to sharing economy, which will stimulate economic growth in long-term.
Hai Yen
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