FastGo drives into provincial markets in Vietnam

By Thanh Thu   October 23, 2018 | 05:55 pm PT
FastGo drives into provincial markets in Vietnam
FastGo launched its services in southern provinces of Dong Nai, Binh Duong. Photo by Reuters
Vietnamese ride-hailing app FastGo has expanded its services to Dong Nai and Binh Duong, provinces neighboring HCMC.

FastGo aims to cater to high travel demand within the southern provinces and for commutes between the provinces and Ho Chi Minh City

Nguyen Huu Tuat, general director of FastGo Vietnam, said that Bien Hoa City in Dong Nai and Binh Duong were two municipalities next to HCM City with large traffic flows and number of commuters.

The introduction of the app in these localities will make it more convenient for customers to travel, as well as reduce wasteful ‘empty miles’ for local cabs, he added.

Currently, FastGo has about 1,000 drivers operating in these two cities.

The company plans to expand its presence into Ha Long City in the north and Nha Trang City in the center early next month. By the end of the year, it will also introduce food delivery and "On Demand Shopping" services.

Launched in June 2018, FastGo now operates in Hanoi, Ho Chi Minh City and Da Nang with more than 30,000 drivers. It has already completed “over one million kilometres of service.”

At the end of August, the company received funding from VinaCapital, and is planning to mobilize up to $50 million for a second expansion phase that will target Indonesia and Myanmar.

FastGo has three core services: Fast Car - a four-wheel drive app for private contractors wanting to make additional income; Fast Taxi - a service linked with existing taxi companies who can receive orders on the app; and Fast Luxury – a semi-luxury car service.

FastGo last month said it has 15,000 taxi and motorbike partner drivers in Hanoi and Ho Chi Minh City, but they are still not a common sight on the streets, unlike the ubiquitous red and green uniforms of Go-Viet and Grab drivers.

Tuat said he wants FastGo to become one of Southeast Asia’s top 3 ride-hailing apps in the future.

A Nikkei Asian Review report quoted the company as saying it hopes to make its service available in 20 cities in Vietnam and five other Southeast Asian markets, including the Philippines, Cambodia and Thailand, by the end of next year.

FastGo Vietnam Joint Stock Company was established in April 2018 with its headquarters in Hanoi. The company belongs to a wide network of services provided by Nexttech – a leading tech firm in Vietnam.

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