Vietnam’s FastGo app looks to speed across borders

FastGo CEO Nguyen Huu Tuat told VnExpress International on October 11 that the app will have its own payment system and will “personalize” promotion deals that will match customers’ interests.

“Our goal is to reach 30% of the market share after six months in these two countries,” he said.

Explaining the choice of these two countries for the company’s first overseas expansion, Tuat said he wanted to start with the easiest neighboring countries to tap.

“After looking at their national policies as well as the market’s current competitiveness, we believe that Indonesia and Myanmar would be the perfect destinations,” he said.

“We also have strategic partners, networks and business strategies for us to be successful in these countries.”

The company is in the process of hiring staff and renting facilities.

After launching in Hanoi on June 12, the app is now available in Da Nang and Saigon.

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.

The Nikkei Asian Review reported a few days ago that the company 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.