SINGAPORE, Indonesian ride-hailing and online payment firm Go-Jek said on Thursday it will enter Singapore, Vietnam, Thailand and the Philippines in the next few months, investing US$500 million in its international push.
The move will start with ride-hailing services before expanding to other sectors, Go-Jek said in a press release.
"People in Vietnam, Thailand, Singapore and the Philippines don't feel that they're getting enough (choice) when it comes to ride-hailing," CEO Nadiem Makarim said.
The firm said it will work with regulators and other stakeholders to prepare for the new operations.
"Our aim is to partner with countries and their governments to bring benefit to everyone who uses our technology whether consumers looking for fast, competitive services, or drivers looking to secure additional income," Makarim said.
Go-Jek noted in the press release that while it will provide the technological support to its chosen partner countries, local founding teams will run the companies that Go-Jek will help set up.
"The local companies will determine their own brands and identities to ensure good traction in each new market," said the transport firm.
"Our role will be to act as advisors, giving the new companies the benefit of our operational and development experience so they can take the spirit with which we created Go-Jek and find the best way to achieve that locally," added Makarim.
Go-Jek's expansion comes after it received investment from firms like Google, JD.COM, Tencent and Temasek.
The company currently offers services like transportation, logistics, mobile payments, food delivery in various cities in Indonesia. It announced late last year that it plans to expand into Southeast Asian markets, starting with the Philippines.
The expansion announcement came after Uber agreed to sell its Southeast Asian business to regional rival Grab.
Source: NAM News Network