Didi Chuxing’s joining the Vietnamese market raises questions about how the shared investor Tencent would affect the market, with many raising the example of Softbank’s remarkable impact on Uber and Grab. Tencent's interest in Didi Chuxing and Go-Jek may belie ambitions to harmonise the market China-based ride-hailing player Didi Chuxing is waiting for the Vietnamese government’s approval to start operations in the country, according to newswire Dantri. Nguyen Xuan Thuy, deputy director of the Transport Department under the Ministry of Transport (MoT), told Dantri that Didi Chuxing submitted the dossiers to MoT, however, the ministry has yet to consider this proposal because it is not a suitable time for Didi Chuxing to enter Vietnam. At the same time, motorcycle ride-hailing transportation provider Go-Jek from Indonesia has gathered a team of experts to advise its expansion in Vietnam to break the dominance of Grab. In reality, both Didi Chuxing and Go-Jek … [Read more...] about Tencent interest to rearrange ride hailing market?
Ride hailing
Vietnam ride-hailing firms gear up to compete with Grab
With Uber bowing out and Grab consolidating the market, domestic transport enterprises could invest in expanding their market share, giving consumers more options. Photo: zing.vn) Hanoi (VNS/VNA) - After Grab’s takeover of Uber on March 26, some Vietnamese transport businesses are taking advantage of an opportunity to invest in the lucrative ride-hailing market. Pham Van Dung, head of TaxiGo application development, told the online newspaper dealstreetasia that Grab’s acquisition of Uber’s entire business in Southeast Asia is creating opportunities for other local businesses. “Customers always want to have different options,” he said. “The acquisition of Uber will bring us as well as the other parties an opportunity to participate more deeply in the market.” Tran Thanh Nam, the founder of Vivu Technology Development JSC, told the English-language Vietnam News that Uber’s decision to withdraw from Southeast Asia prompted businesses to … [Read more...] about Vietnam ride-hailing firms gear up to compete with Grab
Controversial moves on ride hailing market
Ride-hailing business in Vietnam see movement due to the leave of Uber Uber drivers leave over crushed dreams On March 26, all Uber drivers received a notification that after Uber officially stops its operations in Southeast Asia, they will become partners of Grab. Accordingly, drivers who want to work for Grab will have to register to have their accounts automatically transferred to Grab. The change will take place on April 8. However, Uber drivers are not exactly excited about joining Grab because the firm's commissions are far higher than Uber’s. Notably, Uber drivers would need to pay 28.6 per cent of their revenue cent to Grab, including 25 per cent commission and 3.6 per cent personal income tax. The ratio is much higher than the 20-25 per cent Uber charged. Manh, an Uber taxi driver from Hanoi, stated that since mid-2017, when Uber changed its business strategy in Vietnam and hiked commission to 23 per cent, numerous drivers had to return to work for traditional taxi … [Read more...] about Controversial moves on ride hailing market
Viet Nam ride-hailing firms gear up to compete with Grab
After Grab’s takeover of Uber on March 26, some Vietnamese transport businesses are taking advantage of an opportunity to invest in the lucrative ride-hailing market. Pham Van Dung, head of TaxiGo application development, told the online newspaper dealstreetasia that Grab’s acquisition of Uber’s entire business in Southeast Asia is creating opportunities for other local businesses. “Customers always want to have different options,” he said. “The acquisition of Uber will bring us as well as the other parties an opportunity to participate more deeply in the market.” VATO allows customers to bargain price Tran Thanh Nam, the founder of Vivu Technology Development JSC, told Viet Nam News that Uber’s decision to withdraw from Southeast Asia prompted businesses to increase investment in ride-hailing applications. Nam also revealed that Phuong Trang Tourism Service and Transport JSC has invested almost US$100 million into Vivu and renamed it … [Read more...] about Viet Nam ride-hailing firms gear up to compete with Grab
Vietnamese firm pours $100 million into local ride-hailing app
By Thanh Le  April 2, 2018 | 11:54 am GMT+7 The now-Vato app in its previous incarnation on Google Play. Photo by VnExpress The move follows rival Grab's takeover of Uber's Southeast Asia operations. A Vietnamese transport company has invested $100 million in local ride-hailing app Vivu, according to a statement issued on Saturday. Nguyen Tri Dung, director of Phuong Trang, said he had always wanted to invest in a so-called ‘made in Vietnam’ product, and Vivu, as a startup, was lacking the funds and human resources to realize its potential and flourish. The $100 million investment is a win-win for both sides, he said. Vivu founder Tran Thanh Nam said the app has rebranded a month earlier than planned in an apparent bid to take advantage of rival Grab's recent aquisition of Uber. Now known as Vato, Dung said that what sets it apart from other ride-hailing services like Grab and Uber is how the software functions as an e-commerce … [Read more...] about Vietnamese firm pours $100 million into local ride-hailing app