FastGo to bring ride-hailing service to Indonesia and Myanmar

Vietnamese ride-hailing company FastGo intends to expand its service to Indonesia and Myanmar by the end of the year. In a report from Việt Nam News, Nguyễn Hữu Tuất, FastGo’s CEO, says the company expects to occupy a 30% market share in Indonesia and take second place after Grab in Myanmar. The company aims to raise US$50 million in a new round of funding to help accelerate regional expansion, Tuất adds. According to Tuất: “We chose Myanmar and Indonesia as we have relevant strategies for them in place.
October 11, 2018 Read time: 2 mins

Vietnamese ride-hailing company FastGo intends to expand its service to Indonesia and Myanmar by the end of the year.

In a report from %$Linker: 2 External <?xml version="1.0" encoding="utf-16"?><dictionary /> 0 0 0 link-external Vi&#7879;t Nam News Vietnam News article false https://vietnamnews.vn/economy/466916/fastgo-to-launch-in-indonesia-and-myanmar.html#qG7DKEry2AORe8kS.97 false false%>, Nguyễn Hữu Tuất, FastGo’s CEO, says the company expects to occupy a 30% market share in Indonesia and take second place after Grab in Myanmar.

The company aims to raise US$50 million in a new round of funding to help accelerate regional expansion, Tuất adds.

According to Tuất: “We chose Myanmar and Indonesia as we have relevant strategies for them in place. We already have strategic partners in these two markets to launch our services.”

In August, FastGo secured an undisclosed amount of funding from VinaCapital Ventures, which the firm then used to expand its operations into the coastal city of Đà Nẵng.

“The launch in Indonesia and Myanmar will not affect our expansion and development in Vietnam,” Tuất concludes.

Going forward, FastGo plans to deploy its service into the Philippines, Cambodia and Thailand.

Urban Traffic Control

Related Content

  • European Court of Justice rules Uber as a Transport service
    December 22, 2017
    The European Court of Justice has ruled against Uber, concluding it to be a transport service, which will require it to have stricter regulation and licensing as a taxi operator within the EU. The decision follows a challenge presented by taxi drivers in Barcelona who were seeking a declaration from a court in 2014 that activities of Uber Systems Spain, amounted to misleading practices and acts of unfair competition.
    Read More
  • Quantum XYZ intends to launch air taxi service in Los Angeles
    December 4, 2018
    Quantum XYZ is seeking to use SureFly’s eight-rotor hybrid ‘octocopters’ to launch an air taxi service in Los Angeles. SureFly, a subsidiary of US technology company Workhorse, is currently pursuing Federal Aviation Administration (FAA) type certification for its electric vertical take-off and landing (eVTOL) aircraft. Quantum intends to submit an application to become a FAA-certified urban VTOL air carrier. The company’s president, Tony Thompson, says: “Once SureFly receives FAA Type certification, we
    Read More
  • LA launches own ‘Green New Deal’
    August 15, 2019
    Los Angeles, once a temple to the automobile, has followed the Democrats in launching its own Green New Deal – and the city has made big pledges on urban mobility investment The Democratic Party has started something. The Green New Deal, one of whose most high-profile supporters is new congresswoman Alexandria Ocasio-Cortez, intends to persuade the public that swift action is necessary to combat climate change. Now the city of Los Angeles has followed suit, releasing what it calls ‘LA’s Green New Deal’.
    Read More
  • Renault and Waymo explore AV service in Paris
    November 14, 2019
    Renault and Waymo are hoping to establish an autonomous mobility service between Roissy-Charles de Gaulle Airport and La Défense, a business district in France’s capital Paris. Valérie Pécresse, president of the Paris region, says the service could “play a key role for the mobility of Île-de-France inhabitants, tourists and therefore for the international attractiveness of our region, which is investing €100 million to develop the infrastructure on which autonomous vehicles will operate.” Both partie
    Read More

Highlighted Content