Prime Minister Pham Minh Chinh meets with Mr. Anthony Tan, CEO and Co-founder of Grab. Photo: VGP
During his official visit to Malaysia, on the morning of May 25, in the capital city of Kuala Lumpur, Prime Minister Pham Minh Chinh worked with Malaysian businesses and business associations to promote cooperation, investment, and business activities in Vietnam.
Among these businesses was
Grab
.
Meeting with the Prime Minister, Mr. Anthony Tan, CEO and Co-founder of Grab, affirmed that Vietnam is an important market for Grab. At the same time, the CEO of Grab committed to contributing more to the country’s socio-economic development through innovative solutions.
Grab’s leadership hopes to strengthen cooperation with the Vietnamese government to promote digital transformation in provinces and cities nationwide
, improving the quality of life for citizens, especially in the fields of technology, innovation, and enhancing the capacity of artificial intelligence (AI) application for people, traders, and tourism digitalization.
In addition, according to Mr. Anthony Tan, Grab also focuses on nurturing and developing technology talents in Vietnam, having established a Research and Development (R&D) Center in Ho Chi Minh City in 2017. In 2024, the team of engineers in this center increased by 60% compared to the previous year.
The Prime Minister proposed that Grab should promote the application of digital technology to contribute to the digital transformation of the tourism industry, supporting the goal of promoting and developing tourism and enhancing Vietnam’s logistics capacity. Photo: VGP
After listening to the sharing of Grab’s CEO, Prime Minister Pham Minh Chinh welcomed Grab’s efforts in promoting digital transformation in Vietnam.
The Prime Minister proposed that the Group continue to expand its investment and develop new fields and business lines, while promoting the application of digital technology to contribute to the digital transformation of the tourism industry, supporting the goal of promoting and developing tourism and enhancing Vietnam’s logistics capacity.
Especially, the head of the government welcomed Grab’s coordination in organizing large-scale performances and music events, bringing foreign artists to Vietnam and Vietnamese artists to perform abroad.
In fact, Grab is currently a provider of transportation, delivery, and digital payment services operating in Southeast Asian countries. Grab is present in 50 provinces and cities in Vietnam.
Grab Reveals Vietnam Revenue for the First Time
Grab first appeared in Vietnam in 2014. Photo: DH
According to the 2024 annual report released in April 2025,
Grab recorded impressive growth in the Vietnamese market.
Specifically, Grab Vietnam’s revenue has been on an upward trajectory for three consecutive years, increasing from $108 million (in 2022) to $185 million (in 2023) and
reaching $228 million in 2024
, equivalent to approximately VND 5,700 billion.
Thus, Grab’s revenue in Vietnam increased by more than 70% in 2023 and continued to grow by nearly 23% in 2024. This is also a significant growth rate in the context of increasing competition in the ride-hailing and delivery technology market.
In fact,
Vietnam currently contributes more than 8% of Grab’s total regional revenue,
ranking only above smaller markets such as Cambodia and Myanmar. Meanwhile, Grab’s main markets in terms of revenue are Malaysia ($816 million), Indonesia ($643 million), Singapore ($578 million), the Philippines ($265 million), and Thailand ($252 million).
In Vietnam, Grab first entered the domestic market in 2014, with the legal entity being GrabTaxi Company Limited (the predecessor of Grab Company Limited). In October 2014, the company officially launched the GrabBike service and began recruiting two-wheeled drivers. Today, after more than 10 years, people can use the Grab application for services such as transportation, dining, shopping, delivery, and payment, and also have additional income opportunities.
According to Mr. Anthony Tan, in the early days, attracting drivers to join the Grab platform was challenging due to a lack of capital.
In the early days of the startup, Grab’s CEO used to go to Ho Chi Minh City to give coffee to drivers at around 4 am. Photo: CNBC
Grab’s CEO decided to travel across Southeast Asia to convince taxi drivers to try Grab, including in Vietnam. Mr. Anthony Tan recounted that he noticed that before starting their morning shifts, taxi drivers in Ho Chi Minh City often gathered for coffee, so he would be there at around 4 am to offer them free coffee. At the same time, he also persuaded them to join Grab.
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