Vietnam Billionaire’s Taxi Firm Takes On Grab in Southeast Asia

Vietnam’s richest man Pham Nhat Vuong is looking to disrupt ride-hailing sectors across Southeast Asia as his taxi company Green & Smart Mobility JSC, or GSM, battles Grab Holdings Ltd. to be the top ride operator in his home market.

The company, though, will face challenges as it takes on entrenched rivals in a thin-margin industry and with a small presence in overseas markets, said Bloomberg Intelligence analyst Nathan Naidu.