Vietnamese Ride-hailing FastGo Launched In Myanmar

YANGON — FastGo Việt Nam on Friday officially launched its service in Myanmar, becoming the first Vietnamese firm in the ride-hailing sector to expand its operations to foreign markets.

FastGo plans to introduce its services in big cities in Myanmar in 2019, with 2 million users and 100,000 drivers. In addition, it would continue to invest and call for investment to develop new services in the market.

It would maintain its competitive advantage of no commission for driver partners and not increasing fares during peak hours or adverse weather conditions.

Speaking at the launch ceremony, Nguyễn Hữu Tuất, FastGo’s general director said with the foundation of global technology and service operation know-how, FastGo would continue to invest to develop new services in Myanmar.

“We expect to become a part of Myanmar and a trusted partner,” he added.

He said the company chose to launch in Myanmar first as they have a partner – Asia Sun Group – which is one of the biggest groups in Myanmar in different sectors. In addition, Myanmar is a potential market with rapid development in e-commerce, tourism, retail and especially online economy. With a population of nearly 60 million, the demand for travel and transportation will soar for sure.

Last month, FastGo signed a memorandum of understanding with Asia Sun Group to launch its ride-hailing app in Myanmar.

Launched in June 2018, Vietnamese ride-hailing app FastGo has already achieved second largest position in number of users and rides served, available in 10 cities and provinces across the country and registered more than 40,000 driver-partners. Making use of that pace, FastGo was set to expand their footprint to many other Southeast Asian markets in 2019.

“FastGo does not only provide ride-hailing services. We aim at developing an on-demand multi-services eco-system including daily rides, travel, transportation, catering and personal finance. In the future, we will in turn launch these services in order to bring the best utilities for customer’s daily life,” he said.

It plans to expand to Indonesia, the Philippines, Cambodia and Thailand after these two markets.

As part of the launch ceremony, FastGo also signed co-operation agreements with Mytel-Viettel’s brand in Myanmar to provide telecom and data services for its customers and partners and Capital Insurance for insurance services for its riders. — VNS