17:39 (GMT +7) - Saturday 22/02/2020


Grab commits to continued investment

Released at: 23:17, 27/04/2018

Grab commits to continued investment

PM Nguyen Xuan Phuc (2nd from left) met with Mr. Anthony Tan (second from right) and other Singaporean business leaders on April 26 (Photo: Grab)

Grab CEO affirms expansion plans in Vietnam with PM during latter's official visit to Singapore.

by Khanh Chi

Grab’s CEO and Co-founder Mr. Anthony Tan and other Singaporean business leaders were honored to meet and speak with visiting Prime Minister Nguyen Xuan Phuc within the framework of the Vietnam-Singapore Business Forum 2018, co-organized by Enterprise Singapore and the Singapore Business Federation in Singapore from April 25 to 27.

Mr. Tan said he and other business leaders had fruitful discussions with the Prime Minister, particularly on the application of technology to improve people’s lives and creating a favorable business environment for foreign investment to thrive. He also expressed his gratitude for the Prime Minister’s foresight in embracing technology and innovation to drive Vietnam towards Industry 4.0. 

Industry 4.0 is key to Vietnam’s strategy for sustainable economic growth and improved social mobility, and every Vietnamese citizen stands to gain from its success. “As an active private sector contributor to Vietnam’s digital economy, I assured Prime Minister Phuc that Grab is committed to continuing to invest in Vietnam and improving the lives of Vietnamese people, in line with the social impact mission at the heart of everything we do,” Mr. Tan said.

“With the support of Enterprise Singapore, we will continue to work together with the Vietnamese Government on a win-win basis on amending Decree No. 86, harmonizing the varied interests of consumers, driver-partners, and transportation companies and supporting the development of a healthy and fair business environment in Vietnam,” he added.

Grab’s technology and innovation has enabled more than 135,000 driver-partners across Vietnam to earn 55 per cent more than the national average wage, reduced commuting times by 51 per cent and enabling transportation partners and cooperatives to grow their businesses by leveraging Grab’s open technology platform.

“That said, there’s so much more we can do to drive Vietnam’s digital economy ambitions forward,” Mr. Tan committed. “Riding on our success in ride-hailing, we are making significant technology investments and working hard to bring an expanded range of online consumer services to Vietnam with the aim of making the everyday lives of all Vietnamese easier, starting with food delivery, package delivery, cashless payments, and financial services for the unbanked and underbanked populations.”

Prime Minister Phuc is an advocate of technological innovation, realizing its vast potential to bring about greater economic and social mobility opportunities for the people of Vietnam. “Grab shares the same vision. It’s been Grab’s privilege to contribute to the growth of the digital economy in Vietnam,” he said “As a locally-registered company, we have always strived to comply with rules and regulations.”

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