Ride-hailing firm Go-Viet CEO steps down

Go-Viet CEO Nguyen Vu Duc and chief growth officer Nguyen Bao Linh have stepped down from their positions and would take on the advisory roles to Go-Viet and the company’s strategic partner Go-Jek.

Having not revealed the successors, the company said that the rest of the management board would take responsibility for the daily operating activities. 

Duc took his role as founder and CEO of Go-Viet since the company’s launching last March. Earlier, he graduated Havard, worked in a large bank in Vietnam for ten years, started a fintech company, and then became a member of a Uber team in 2014. 

Backed by the Indonesian ride-hailing Go-Jek since last July, Go-Viet offers bike-hailing, delivery and food services in the country, with plans to launch car-hailing.

Bringing a customer to her destination on a sunny day in March 2019, Hoang, a young driver says that he decided to join Go-Viet as the company did not charge drivers in the country any fee for the first few months of its operation.

However, on January 21, Go-Viet announced to collect fees of 20 per cent per fare from February 2019. It has also stiffened policies for drivers’ performance and reward points.

Hoang says that while a number of drivers have uninstalled Go-Viet’s app, he still works for the firm as 10 per cent of the fair would be returned at the end of each month. There is nothing sure about the time Go-Viet cut this policy as well as about the ride-hailing firm that Hoang would work for at the time.

“We have a number of choices when Go-Viet stop returning the fee. The more brands having bikes on the street, the more interest Vietnamese customers gain,” Hoang said.

Go-Viet, Grab and a number of local players such as FastGo and Be are holding the $500 million ride-hailing market of Vietnam. It is forecasted that the industry will reach $2 billion by 2025, with a growth rate of 29 per cent annually, according to reports from Google and Temasek.