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Grab commits long-term presence in Vietnam
Hai Yen 14:09, 2022/07/20
Grab would continue to work with local authorities to support Vietnamese farmers and small and medium businesses in digitalizing the farming industry.

Ride-hailing firm Grab is committed to serious and long-term operations in Vietnam, with the immediate focus on supporting local farmers to sell products in the domestic and foreign markets.

 Deputy Prime Minister Le Minh Khai (r) and Grab’s CEO and Co-founder Anthony Tan (l). Source: VGP

Grab’s CEO and Co-founder Anthony Tan pledged to continue to closely work with local authorities in supporting Vietnamese farmers during a meeting with Vietnam’s Deputy Prime Minister Le Minh Khai on July 19.

According to Tan, Grab would assist Vietnamese small and medium businesses in the sector in digitalizing the farming industry, especially in selling farm produce on a digital platform; training farm producers on digitalization, and cooperating with major Vietnamese banks for Grab’s partners to access loans and cope with the pandemic’s impacts.

Deputy PM Khai highlighted Grab’s partnership with the Government in overcoming the Covid-19 pandemic.

Khai added Grab along with other transportation firms has played a significant role in ensuring the smooth movement of goods, especially essential commodities during the pandemic and ensuring people’s livelihoods.

The Deputy PM said within the ASEAN Community, the Vietnam-Singapore strategic partnership has been strongly progressing in various fields, especially economy, trade, and investment.

Despite severe Covid-19 impacts, bilateral trade turnover rose by 23% year-on-year in 2021 to $8.3 billion.

Singapore remained Vietnam’s largest investor in ASEAN with 2,934 ongoing projects, taking the total registered capital to nearly $70 billion and ranking second among 139 countries and territories having investment projects in Vietnam.

During the first six months of 2022, Singapore was the largest investor in Vietnam with an investment capital of $4.13 billion.

“Vietnam seeks to bolster its traditional friendship and strategic partnership with Singapore, especially as both are set to mark the 50th anniversary of diplomatic relations and the 10th anniversary of strategic partnership in 2023,” he added, noting Grab could contribute actively to the bilateral relations.

Khai said digitalization and digital economy have fast become priorities in economic cooperation among ASEAN countries.

“Vietnam expects Grab to continue expanding operation in Vietnam for mutual benefits,” Khai said.

“The Vietnamese Government would continue to create favorable conditions for Grab and other businesses to operate long-term in Vietnam based on harmonizing benefits and sharing risks,” he added.

On Grab’s recent “hot weather surcharge”, Grab CEO Anthony Tan said 100% of additional revenue would be for its driver partners so that they would serve passengers better.

Tan said Grab is committed to fulfilling its tax obligation in the country, and working with all stakeholders to build public trust and better serve the local customers.

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