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Al Jazeera
Al Jazeera
Business
Govi Snell

Vietnam’s richest man vies to dethrone SE Asia’s ride-hailing king, Grab

Xanh SM is the second-most popular ride-hailing service in Vietnam after Grab, according to the market researcher Decision Lab [Nguyen/Al Jazeera]

Ho Chi Minh, Vietnam – When Dat had to choose a ride-hailing app to work with as a gig driver, he purposely decided against Grab, the leading player in Southeast Asia.

Instead, the 23-year-old was persuaded by the environmentally friendly marketing and homegrown status of Xanh SM, an electric taxi and motorbike service founded by Pham Nhat Vuong, the chairman of the Vietnamese mega-conglomerate Vingroup and Vietnam’s richest man.

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