Major vehicle allocation service “Grubb” Announces investment of 500 million dollars in Vietnam August 28, 17:48
“Grubb”, a leading vehicle distribution service company that is attracting attention as Asia's largest unicorn company, announced that it will invest approximately 53 billion yen in its business in Vietnam over the next five years. Shows the momentum.
Singapore-based vehicle distribution service giant Grab announced on the 28th that it will invest $ 500 million (approximately 53 billion yen in Japanese yen) in Vietnam over the next five years.
Grab, which continues to grow rapidly, is providing services using smartphones in 8 countries in Southeast Asia, such as Indonesia and Thailand, as well as vehicle dispatch services, meal delivery, daily shopping, and electronic payment services. However, it means working on business expansion such as dispatch and meal delivery.
Grab is said to be one of the largest unicorn companies in Asia, and Japanese companies such as Softbank Group have invested in succession.
Min Mae told Reuters this month that "Vietnam is very lively in the middle-income class and is very promising because of the active consumption of young people who often use smartphones." .
In Vietnam, more than 80% of the population uses smartphones, and the GDP growth rate has been at a high level of over 6% every year for the past several years. Shows the momentum of the digital industry in Southeast Asia.