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Ride-hailing firm Grab announced on Wednesday it will invest $500 million in Vietnam over the next five years to expand its services in the Southeast Asian country.
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The company will expand its transport, food and payments networks in the country, Grab said in a statement.
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“This investment is a reflection of our redoubled commitment to Vietnam,” said Russell Cohen, Head of Regional Operations of Grab.
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“The country’s rapidly developing economy and emerging middle class population makes it ripe for the adoption of digital services,” he said.
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