By Leaps and Bounds: Grab to Invest Big in Vietnam

South-East Asia’s popular ride-hailing company, Grab, will inject an undisclosed amount of money in Vietnam, Reuters reported on Monday. The move comes just after a few weeks after it announced an investment plan worth $2billion in Indonesia.

The company said that the company is betting on the new investment to create a transport network and change the outlook of healthcare’s operations.

Ming Maa, President of Grab, spoke exclusively to Reuters and said that the company is thrilled to invest in Vietnam.

There area lot of expectations from the company to pump in more than several hundred million dollars to propel business growth in Vietnam, he added. Among the company’s top markets, Vietnam ranks third or fourth.

Last year, Grab joined hands with Moca, a Vietnam-based fin-tech firm, to roll out a digital wallet. In the same year, it joined hands withCredit Saison, a Japan-based credit card company, to offer financial services to the customers and micro-entrepreneurs in South East Asia. The services include loans and credit analysis.

According to reports by App Annie, a market data and analytics firmsaid that till now the demand for grab surgedthe most from January to Julyin Vietnam.

The new investment is a big boost for Grab to establish itself as a leader in the space of ride-hailing in Vietnam. Vietnam is one of the fastest-growing economies in Asia.