Competition reviving up in Vietnam's car-hailing market

Recently, Indonesia’s ride-hailing start-up Go-Jek officially announced its entry inyo Vietnam with its Go-Viet app. Photo: thuonghieucongluan.com.vn

Google recently reported that Southeast Asia’s ride-hailing market has grown fourfold since 2015, and will be worth US$20 billion by 2025. Grab is the biggest player at present, and is available in some 200 cities following its acquisition of Uber’s regional operations, Nikkei Asian Review reported.

With a population of 90 million and a fast-growing transportation service market, Vietnam has become a lucrative place not only for local enterprises but foreign players too.

Never have Vietnamese customers had such a diverse range of car-hailing options. Drivers also have a wide variety of options.

FastGo Vietnam Company Limited under the NextTech Group launched its ride-hailing service, ‘FastGo’, this month.

Smartphone users can download the FastGo app from the Apple Store and Google Play Store.

The service will be launched in Ho Chi Minh City next month and in Danang city in August.

FastGo currently offers three key services: Fast Car for private drivers in need of higher income; Fast Taxi, connecting customers with taxi operators providing ride-hailing solutions via the FastGo app; and Fast Luxury, offering transport in luxury vehicles.

Earlier this year, a group of young Vietnamese engineers studying in Europe announced another ride-hailing app, Aber.

Aber will provide six services, including Aber Bike, Aber Car, Aber Truck, Aber Travel, Aber Business and Aber Express.

Recently, Indonesia’s ride-hailing start-up Go-Jek officially announced its entry into Vietnam through its Go-Viet app.

Go-Viet is a company founded by a Vietnamese team and backed by Go-Jek.

Go-Viet will officially be launched in Ho Chi Minh City next month.

Other names include VATO – a ride-hailing application developed by Phuong Trang Tourism Service and Transport JSC, and T.net – developed by lecturers and students from FPT University.