Gojek to cease operations in Vietnam from September 16

Gojek, Indonesia-based ride-hailing firm, will cease its operations in Vietnam from September 16 this year after six years entering this market in a move to optimize its growth, the company has announced.

This decision is part of a strategy to allow the firm to focus on activities that can have a significant and sustainable impact on the market, in line with its parent company GoTo’s commitment to achieving long-term sustainable business growth, a representative from Gojek said.

Gojek expanded its operations to Vietnam in August 2018 under the name GoViet. Just two months later, the firm launched its online food delivery service, GoFood.

Among ride-hailing brands in Vietnam, Grab makes up 42% of the market share, followed by Be, Xanh SM and Gojeck with their respective market shares of 32%, 19%, and 7%.