Vinataxi marks 30th anniversary with celebration of resilience

Leading taxi operator Vinataxi commemorated its 30th anniversary on October 7, honoring all stakeholders who have helped it face and overcome many challenges including recession, the pandemic and fierce competition.

Established in 1992, Vinataxi pioneered public transportation in Ho Chi Minh City. At its peak, it became an iconic brand with its fleet of hundreds of yellow taxis cruising around the city with calling number 111111.

In 2003, Vinataxi received the backing of ComfortDelgro, a top taxi firm in Singapore, as major stakeholder to invest $1.5 million in developing Vinataxi in cooperation with Tracodi.

After nearly 20 years of holding a 70% stake, ComfortDelgro sold its entire stake in Vinataxi to Helios in April 2022. Tracodi holds the remaining 30%.

Both Helios and Tracodi are businesses in the ecosystem of Bamboo Capital, a multi-sector corporation listed on the Ho Chi Minh Stock Exchange (HoSE) as BCG.

As a 100%-Vietnamese business under the BCG, Vinataxi has managed to turn things around, ending a streak of loss making this May, after which it has consistently recorded profits.

Currently, Vinataxi operates about 300 vehicles and is continuing its restructuring and governance improvements, while boosting the number of cars and pick-up locations and improving services.

With the advantage of owning a 7,000-square-meter workshop and headquarters at the Tan Binh Industrial Park, Vinataxi will expand its operation; and cooperate and invest in sectors of logistics, warehouse, vehicle maintenance and quality examination, said CEO Do Ngoc An.

Speaking at a ceremony organized to commemorate three decades of operations, An said Vinataxi has survived economic recession, the Covid-19 pandemic and fierce competition from both domestic brands and ride-hailing services. He dedicated the achievement to Vinataxi stakeholders, staff, and drivers.

“Bamboo Capital and the board of Vinataxi are committed to increase the incomes and welfare of employees and develop Vinataxi back to its former glory as a big and prestigious taxi brand,” he said.