Grab says it pumped $100M into Myanmar in four years

Ride-sharing company Grab has invested over US$100 million (K143.5 billion) in Myanmar in the past four years to strengthen its position on the local taxi market, a senior company official said Tuesday.

Cindy Toh, country manager for Grab, said the company will continue investing to further improve the quality of its service in Myanmar.

“Grab will emphasize service quality and safety, not only technology,” she told a briefing. “We will continue investing in expansion and partnerships to better the platform and expand the ecosystem.”

Grab launched its service in Myanmar in July 2017, and has since introduced Grab Taxi Call service, Premium Rentals (Beat), and Grab Food.

The company’s taxi service is popular and experiencing an increase of 10 percent in daily rides in 2019 from the previous year, and adding more than 196,000 more precise location points in the Grab application.

The number of businesses using Grab for Business doubled in 2019, and the most popular destinations for rides were Myanmar Plaza, Junction City, and Yangon Airport.

Grab will expand its services to other key cities across the country this year, Toh said. GrabFood will be launched for local restaurants and transportation partners in Mandalay this year.

“Although food delivery is increasing locally, it still lags behind other countries. We have many opportunities,” said U Myat Kaung Min, head of GrabFood Myanmar.

Grab For Good will be launched in Myanmar soon.

In 2018, Grab launched its Grab Thone Bane (three-wheeler) service in Bagan and Mandalay city, and Grab TaxiPlus service.

More than 166 million people in 339 cities in Myanmar, Vietnam, the Philippines, Thailand, Cambodia, Malaysia, Singapore, and Indonesia have downloaded the Grab app on their mobile phones.

Source: Myanmar Times

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