Grab and Sovico Group sign comprehensive strategic partnership

Grab inked a deal with Sovio Vietnam under the witness of guyen Thien Nhan, member of the Politburo and Secretary of the Ho Chi Minh City Party Committee

Witnessed by Nguyen Thien Nhan, a member of the Vietnamese Politburo and Secretary of the Ho Chi Minh City Party Committee, the MoU marks a great partnership milestone in the region between the leading superapp of Southeast Asia and one of the biggest multi-industry conglomerates of Vietnam. To digitise the mobility infrastructure of Vietnam in the long term, the two parties will explore collaboration opportunities in electric vehicle infrastructure and explore and develop integrated digital solutions.

As part of the strategic partnership, Grab and Sovico Group will also jointly share, explore, and participate in corporate social responsibility and public-private partnership (PPP) projects. The shared vision reflects Sovico Group’s deep commitment to developing and deploying digital solutions and Grab’s #TechforGood vision to use technology as a force for good in improving Vietnamese people’s lives.

The partnership consolidates the leading positions of both Sovico Group and Grab in their respective professions. To execute this vision, Sovico Group brings its expertise and capabilities in international and nationwide aviation network, finance, real estate, and hospitality. Similarly, Grab’s platform and technology will help significantly augment Sovico’s digital services and add a much-needed tech boost to the economy of Vietnam and the whole region.

The tie-up between Grab and Sovico Vietnam aims to solve logistics and mobility bottlenecks and improve first and last-mile delivery networks

“Together, we will work closely to leverage one another’s advantages and explore collaboration opportunities in multiple fields, with a focus on digitalisation, aviation, and road mobility. We believe that this partnership will bring about critical improvements for both parties, as well as provide more products and services to the large customer base of the two sides,” said Pham Khac Dung, deputy managing general director, Sovico Group.

Welcoming the partnership, Russell Cohen, head of Regional Operations of Grab, said: “As a leading superapp in the region and in Vietnam, we aim to make substantial contributions to the national digitalisation of the transport, delivery, and payment industries. Through the partnership with Sovico, a multi-sector conglomerate of Vietnam, we will take a big step towards completing our ecosystem, providing customers with better services, and benefiting our partners with more innovative solutions.”

In July 2019, Grab and Sovico Group’s affiliates, including VietJet and Swift247, teamed up for a partnership that will provide better first to last-mile logistics service and develop smart payment solutions. With the technological solutions of Swift247, Grab and Vietjet will be able to connect air flights with road transportation, delivering goods via GrabExpress delivery services and Vietjet aircraft within five hours between Hanoi and Ho Chi Minh City.

Collaborating with Sovico Group is a further step of Grab in fulfilling its long-term commitment in the country, better benefiting customers with more added values, which include but are not limited to mobility, logistics, and cashless payment. Grab has just announced an investment of $500 million into Vietnam in the next five years.