Telecom giant Viettel launches ride-hailing service

Viettel’s MyGo app, available for iOS and Android devices, offers motorbike, car, truck and delivery services.

The app is currently in its beta version and is scheduled to be officially launched on July 1.

The company is now recruiting drivers by offering promotions, including a bonus of VND1 million ($43), revenue of 95 percent for each trip and free internet data for MyGo app usage.

Viettel will likely take advantage of its current Viettel Post service, one of the biggest logistics companies in the country with a large number of drivers.

Vietnam’s ride-hailing market has become more crowded after Uber’s departure last year. The country has welcomed several new players including FastGo, Go-Viet and Be, which are all offering promotions to compete with Grab.

The country’s ride-hailing market is forecast to reach $2 billion in 2025, according to a report released last year by Google and Singapore investment firm Temasek.

Viettel is among the leading Vietnamese firms in technology. It has 111 patents and manufactures 78 technology products. Its revenues from technology last year topped $1 billion. The group aims to become a global top 10 telecom company by 2030.