Grab plans to invest 500 mln USD in Vietnam in the next five years (Photo: VNA)
Hanoi (VNA) – Grab Holdings Inc. announced onAugust 28 that it will invest 500 million USD in Vietnam in the next five yearsto expand its services in the country.
Russell Cohen, head of regional operations ofGrab, said this investment reflects the ride-hailing firm’s redoubledcommitment to the Vietnamese market, noting that the country’s rapidlydeveloping economy and young, mobile-first population makes it ripe for theadoption of digital services.
He noted when Grab is expanding food and parceldelivery, transport and payments business across the country, it hopes to tapand invest in new opportunities emerging in financial technology, mobiletechnology and logistics to bring about greater value and innovation to itscustomers and partners.
By the end of 2019, the firm – one of thelargest tech investors in Vietnam – will have invested more than 200 millionUSD into the country, according to head of Grab Vietnam Jerry Lim.
Since its entry into Vietnam in 2014, Grab hasbecome a leading app in ride-hailing and food delivery in the country. Its fooddelivery platform, GrabFood, saw gross merchandise value growing 400 percent inthe first half of 2019, with average daily orders hitting 300,000.
Meanwhile, Moca – Grab’s strategic partner inpayments – recorded its total payments volume on the Grab app up 150 percent inthe period, with monthly mobile active users rising more than 70 percent. -VNA
Vietnamese ride-hailing firm FastGo on April 11 announced its plan to launch the country’s first helicopter ride-hailing service - FastSky - in Hanoi by the end of this month.
The Vietjet Aviation Joint Stock Company (Vietjet) will team up with Swift 247, a technology start-up providing super express air delivery service (Swift247) and Grab to develop solutions for connecting road and air travel to customers across Southeast Asia.
Singapore-based ride-hailing firm Grab is set to invest “several hundred million dollars” in Vietnam where the company sees its next major growth market, just weeks after it unveiled a 2 billion USD plan in Indonesia.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
Petrovietnam will step up the development of new products and the expansion of international markets to reduce reliance on the domestic market. It also plans to optimise capital use, manage cash flow and costs, streamline operations, and enhance workforce quality to achieve its 2025 goals.
Vietnam has so far attracted 43,346 valid FDI projects with a total registered capital of 517.14 billion USD. The accumulated disbursed capital is estimated at nearly 331.46 billion USD, accounting for 64.6% of the total registered capital.
More than a product showcase, Vietfood & Beverage – Propack Vietnam 2025 is designed as a comprehensive ecosystem where businesses, experts, and consumers can share knowledge, explore technologies, and connect for collaboration.
Both sides expressed their hope that the outcomes of the discussion will continue to improve the efficiency of customs clearance activities at the customs clearance points and dedicated transport routes of the Huu Nghi – Youyi Guan international border gate pair.
The maximum retail price of E5 RON92 petrol has increased by 207 VND to 19,608 VND (0.75 USD) per litre while that of RON95-III rose by 234 VND to 20,074 VND per litre.
Grab plans to invest 500 mln USD in Vietnam in the next five years (Photo: VNA) 
