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Vietnam Uber's second-fastest growing market

Released at: 10:00, 17/12/2015

Vietnam Uber's second-fastest growing market

Country second only to China in growth in its first year.

by Minh Tuyet

Vietnam has become Uber’s fastest growing market globally, excluding China, since it was launched a year ago, the company announced on December 16.

In Hanoi Uber has provided more than 1.5 million rides. “Uber Hanoi connects a rider to a driver every few seconds, with an average estimated time of arrival of less than four minutes, all at the push of a button,” it said in a press release. Growth in Hanoi over the last year has surpassed that recorded in major cities such as London, Paris, San Francisco, and Singapore.

The growth rate solidifies Uber as the preferred urban mobility platform for residents and visitors looking for a safe, reliable, and convenient ride, General Manager, Uber Vietnam, Mr. Dang Viet Dung, told VET. “Across Vietnam we have also created work and entrepreneurial opportunities for over 10,000 local Vietnamese partners on the Uber platform,” he said.

He added that this new breed of driver-entrepreneur has been empowered by the unrivalled flexibility and earning potential that Uber’s platform offers while also fostering the entrepreneurship needed to grow their own business.

The impact is comparable to 20 mid-size factories opening but without the need for sizable capital investment. Partners in Vietnam come from different professional backgrounds and benefit from Uber’s flexibility, with 33 per cent of partners in Hanoi driving less than ten hours a week.

Uber’s innovations will continue to solve the unique transport needs of Vietnam and help to address critical social issues at large such as drink-driving and traffic safety. The recently launched “Life, Above All” partnership with the National Transportation Safety Committee has raised much-needed awareness about the dangers of drink-driving and empowered over 200,000 people to make responsible decisions.

After receiving feedback and advice from the Ministry of Transport on its pilot program proposal, Uber is currently working to meet the requirements set out by the Ministry towards a legal framework for Uber and other ride-hailing apps in Vietnam.

In 2016 Uber expects to grow further and expand its services with a 100 per cent cash payment rollout, along with the introduction of new product lines to offer more choice to consumers. Local driver-partners will also benefit from the launch of the new driver-partner app that uses the latest innovative technology and personal insights to increase driver earnings.

“We will take entrepreneurship to a new level, as we’re about to announce a special initiative that will empower those who are less fortunate to take control of their lives,” Mr. Dung added.

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