Gojek to exit Vietnamese market in mid-Sept

Gojek, the ride-hailing arm of Indonesia-based tech giant GoTo, will cease operations in Vietnam on September 16 after more than six years in business.

The company said the move is part of its strategy to focus on activities that can have a significant and sustainable impact on the market, in line with GoTo’s commitment to achieving long-term sustainable business growth.

Gojek expresses "sincere and deep gratitude" to all employees, users, driver and restaurant partners who had been an essential part of its operations in Vietnam, said a company representative.

The rep added that the firm is committed to providing necessary support to all affected parties during this transition process and will strictly adhere to current regulations and laws.

Gojek was founded in Indonesia in 2010, initially focusing on parcel delivery (GoSend) and ride-hailing (GoBike) services before launching its app in January 2015.

The company then grew into a leading on-demand service platform and expanded its operations to Vietnam in August 2018 under the name GoViet. Two months later, it launched online food delivery service named GoFood.

In August 2020, the GoViet brand was officially phased out, and the firm was renamed Gojek Vietnam. It operated in Ho Chi Minh City, Hanoi, Binh Duong and Dong Nai, all Vietnamese economic hubs, before halting operations.

Among ride-hailing brands in Vietnam, Grab, a unicorn from Malaysia, makes up 42% of the market share, followed by Be of Vietnamese multi-service firm Be Group, Xanh SM of Vingroup chairman Pham Nhat Vuong, and Gojek with respective market shares of 32%, 19%, and 7%, according to market research firm Q&Me.

In December 2023, Baemin, a food courier jointly invested by South Korea’s Woowa Brothers and Germany’s Delivery Hero, left the Vietnamese market, ending to its four-year operations in the country due to an economic downturn and fierce competition in the sector.