A FastGo motorbike driver. The firm became the first Vietnamese one in the ride-hailing sector to expand to foreign markets with its presence in Myanmar and Singapore now. (Photo: nld.com.vn) Hanoi (VNS/VNA) – Nguyen Huu Tuat launched a Vietnamese ride-hailing firm a year ago, with dreams of scaling up the business overseas . Many people told him he should develop fully in Vietnam before expanding abroad. Half a year after its launch, FastGo became the first Vietnamese firm in the ride-hailing sector to expand to foreign markets, going some way to proving the doubters wrong. Vietnamese start-ups have various approaches to going global, like attracting investment from foreign investors, going overseas themselves or partnering with international businesses. Start-up founders with foreign ambitions face a tricky dilemma of whether to go local first then global, or try both at the same time. "If I had targeted the Vietnamese market only, the market size then was small, not to mention my company was being 'squashed' by giant ride-hailing Grab and GoViet, another Vietnamese ride-hailing service be launched (at that time)," Tuat, FastGo CEO said. Since he developed global digital-based technology for the service, it was not challenging for Tuat to bring it overseas… Read full this story
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