A Vietnam court last Friday ordered ride-hailing app Grab to pay a cab company more than $200,000 for losses incurred due to competition - a judgment blasted by the firm as “a giant step backwards” for the country’s tech community. The Singapore-based app, which launched in Vietnam in 2013, has been embroiled in a lawsuit with Vinasun, a major taxi provider in the south of the country, since May last year. Vinasun blamed profit losses amounting to $1.8 million on Grab’s entry into the market. A court in Ho Chi Minh City ruled last Friday that Grab must compensate Vinasun $206,000 in damages for “having seriously violated the law on transport business”, a court clerk told Agence France-Presse. A local news outlet, which serves as a mouthpiece for the city’s department of justice, said Grab’s “activities caused losses to Vinasun”. But since there was a lack of concrete evidence to prove that Grab was the sole reason for the Vietnamese company’s losses, the judge said there were no grounds to demand the full $1.8 million compensation. Grab is Southeast Asia’s most dominant ride-share company, operating across eight countries in a fast-growing sector with increasing competition. The judgment sets a “bad precedent”, said… Read full this story
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